Technical Analysis - Quant
QNT/BTC - 01/23/2020
As shown above, we will be updating the technical analysis of QNT/BTC from the 17th of December.
As we can see above, QNT has come down to quite a significant area of support and closed any gaps of inefficiency. Looking at the price action down here, we do see some bottom forming and even a huge volume breakout without the price moving too much.
The MKAST Algorithm has turned into a BUY after a quite long period, that combined with the bottom mentioned above formation, has a noticeable significance to it.
Moreover, the TJ-Index is as well showing more and more indicators turning bullish, which creates quite a few bullish divergences.
All in all, we can see quite a few bullish HTF indications. Nevertheless, an experienced trader would be looking to trade anything inside the green box, which is still very possible due to this here being an HTF chart. A re-test of the September Low seems to be a reasonable level since expecting multiple percentage gains as if it was an al-season is just not realistic after such a long and strong downtrend.
Any closes below the green box, would invalidate the bullish scenario and cause a further 30% drop.
This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!
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