QLC/BTC (Pullback to Previous Resistance?)
QLC/BTC
-after the 100% pump last July 21 the price has retraced back to the average
-the green highlighted area is a key confluence of many factors
-50MA dynamic support, previous resistance, and minor consolidation
-we can see a reaction bounce on the 1st retest
-and this time around, this level is holding and forming a downward trend
-the best setup trade is to buy the break of the resistance trendline
-because that will confirm that the pullback is over
-and the month of May uptrend will continue higher
-after the 100% pump last July 21 the price has retraced back to the average
-the green highlighted area is a key confluence of many factors
-50MA dynamic support, previous resistance, and minor consolidation
-we can see a reaction bounce on the 1st retest
-and this time around, this level is holding and forming a downward trend
-the best setup trade is to buy the break of the resistance trendline
-because that will confirm that the pullback is over
-and the month of May uptrend will continue higher
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