Late post as I had a daily post limit
After having a huge impulse move hitting the final target. Price has retraced into a falling wedge . Similar to the initial move, bearish in nature, however it is a bullish accumulation as the volume in candles drops as it nears the bottom of the wedge .
Currently on the 1H we have a wedge forming and holding decent support at the 61% zone. This area could be a good place to add bids. This area would be a zone that was broken and is now a R/S flip.
One thing to keep in mind is that when BTC is pumping, QNT tends to consolidate a bit, and such is the opposite in a BTC pullback. After the recent wedge break to the upside on BTC , its only right price pulls back a bit. If we get this pullback on BTC its likely QNT will break this wedge and we have another leg up.
Both biases are shown however, Im already in longs and added during this small range we are in.
Previous analysis linked.
After having a huge impulse move hitting the final target. Price has retraced into a falling wedge . Similar to the initial move, bearish in nature, however it is a bullish accumulation as the volume in candles drops as it nears the bottom of the wedge .
Currently on the 1H we have a wedge forming and holding decent support at the 61% zone. This area could be a good place to add bids. This area would be a zone that was broken and is now a R/S flip.
One thing to keep in mind is that when BTC is pumping, QNT tends to consolidate a bit, and such is the opposite in a BTC pullback. After the recent wedge break to the upside on BTC , its only right price pulls back a bit. If we get this pullback on BTC its likely QNT will break this wedge and we have another leg up.
Both biases are shown however, Im already in longs and added during this small range we are in.
Previous analysis linked.
Comentarios:
Comentarios:
Targets will be each fib.
Comentarios:
New Pattern spotted.
These analyses are my personal view on the market.
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
