QUICK/USDT Downtrend breakout. Massive undervalued coin. EOY?
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Intro:
- Quickswap is a permissionless decentralized exchange based on ETH, powered by the Polygon Network's Layer 2 scalability infrastructure.
- Quickswap runs on top of Polygon and therefore has low gas fees.
- SEC confirmed that crypto will not be banned which is positive for the whole crypto market.
- DeFi projects appreciated a lot of attention during the first quarter of 2021 and probably will again during Q4.
Daily chart:
- Price shows a breakout above the purple resistance line. Currently we hover above 400$.
- Volume starts to increase with some huge spikes in between. This is a signal that we probably have bottomed.
- RSI analysis confirms the breakout passing the 43 yellow line.
- Support lines are at 330$ and 150$.
- Resistance lines are at 775$, and 1100$.
Expectation:
- We expect a further price appreciation during the next three months and a solid recovery into October. After the peak around 800$ we got hammered down to 330$ and expect to recover within this month.
- Looking forwards into October where we might see an ETF approval for Bitcoin . This would be in favor for the whole market.
- Polygon did not move during the last 3 months despite bullish news. Imagine Opensea runs on Polygon and people finally start appreciating Opensea and low gas fees.
- DeFi will get more attention during Q4 again and not only for Tax reasons.
- End of the year prediction: We will see a 4000$+ QUICK before the end of 2021.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Specials:
- Boxes represent either entry zone or support zone . Check the description.
- Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
Intro:
- Quickswap is a permissionless decentralized exchange based on ETH, powered by the Polygon Network's Layer 2 scalability infrastructure.
- Quickswap runs on top of Polygon and therefore has low gas fees.
- SEC confirmed that crypto will not be banned which is positive for the whole crypto market.
- DeFi projects appreciated a lot of attention during the first quarter of 2021 and probably will again during Q4.
Daily chart:
- Price shows a breakout above the purple resistance line. Currently we hover above 400$.
- Volume starts to increase with some huge spikes in between. This is a signal that we probably have bottomed.
- RSI analysis confirms the breakout passing the 43 yellow line.
- Support lines are at 330$ and 150$.
- Resistance lines are at 775$, and 1100$.
Expectation:
- We expect a further price appreciation during the next three months and a solid recovery into October. After the peak around 800$ we got hammered down to 330$ and expect to recover within this month.
- Looking forwards into October where we might see an ETF approval for Bitcoin . This would be in favor for the whole market.
- Polygon did not move during the last 3 months despite bullish news. Imagine Opensea runs on Polygon and people finally start appreciating Opensea and low gas fees.
- DeFi will get more attention during Q4 again and not only for Tax reasons.
- End of the year prediction: We will see a 4000$+ QUICK before the end of 2021.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Specials:
- Boxes represent either entry zone or support zone . Check the description.
- Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
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