QTUM - Technical/Fundamental Analysis - Strong, range bound despite BTC fall.
Hi all!
QTUM has held highs and is trading in range, despite the fact that the majority of Crypto's including BTC itself have been faltering!
This gives us a good sign that QTUM is extremely strong, and when BTC takes a turn to the high side QTUM should be explosive!
Fundamentally QTUM is also an extremely interesting coin to have in your portfolio. Its currently rank 17 with a market cap of $2.34B.
The Technology itself behind QTUM is also something special :
Combining a modified Bitcoin Core infrastructure with an inter-compatible version of the Ethereum Virtual Machine (EVM), Qtum merges the reliability of Bitcoin’s unfailing block-chain with the endless possibilities provided by smart contracts.
Designed with stability, modularity and inter-operability in mind, Qtum is the foremost toolkit for building trusted decentralised applications, suited for real-world, business oriented use cases. Its hybrid nature, in combination with a first-of-its-kind PoS consensus protocol, allow Qtum applications to be compatible with major block chain ecosystems, while providing native support for mobile devices and IoT appliances. Credit: Qtum
Below, on the technical analysis side of things we can see the range bound coin holding highs, and a double bottom on strong support indicating heavy buying, holding the coin buoyant, despite the blood bath in the crypto world right now!
We can also see a descending triangle formed, and its getting extremely close to the 85% break out mark.
We will be watching this very closely for a buy on a break out of the descending triangle's highs, and a buy stop order placed above 4000 sats with stop losses placed under 2500 Sats.
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Crypto market have rebounded
I have a deal for you if you're the short-term investor. If you know me you know that this is a rare situation. Generally, I give you only long-term tips. These days I guess you're happy that your crypto investments have partially recovered. So this is a great opportunity to make quick profits. I’ve sold 50% of LTC, IOTA, and DATA.
Can I just ask - and please don't take this as condescending, I'm not being rude but no tone of voice or body language can make written statements easily misconceived - But if you're offering me a deal, I have to ask, what is your trading history? I've been at this for some time now and I've been offered many ''deals''. However I have always found my analysis to be pretty accurate and I've made a good living from it.. My gut and my experience serves me well and that's what I'm trying to share with others. To share the profits :)
I wouldn't have sold LTC or IOTA mate, LTC should see $600+ mid 2018. as for IOTA I can really say a target but its certainly one to HODL nevertheless.
I am a short term day trader, but its not my main strategy. I prefer mid term swing trades for a couple weeks-months, and in some cases that a new crypto idea really catches my eye i will buy to hold till they either go to zero, or they fly!
What is this deal you mention?
All right, this isn't a deal in the true sense of the word. You should understand that more like a recommendation and of course, I can be wrong. My point is, that I see some moderation of price growth in upcoming days, maybe weeks. But definitively I'm hodler of these coins!
I see the main difference between us - you prefer technical analysis and I believe in fundamental analysis. And yes, I prefer FA 'cause I take advantage of my previous experience from stock fundamental analysis - since 2010.
ANd to answer your question, yes, I'm relatively new to crypto, but I wouldn't say I don't have enough of experience :-)