Technical Analysis - Quant
QNT/BTC - 02/19/2020
As shown above, we will be updating the technical analysis of QNT/BTC from the 23rd of January.
QNT has shown some strength in the area of support and tested a significant area above. Currently, it is retracing without any significant sell volume, and with and still increasing Index, this could be the best opportunity to “buy the dip.”
As expected on the previous update, we’ve gotten an MKAST Algorithm Buy-Signal, which resulted in some nice gains. Nevertheless, we still reached and got rejected at an earlier key area of support. This could be a bad sign in the first place, yet to confirm this narrative, we need some form of confluence.
Looking at the volume, we do not have significant sell volume, and on this retrace, it is generally declining. The TJ-Index is still increasing and has not been making lows yet. The MKAST Algorithm is still on a buy-condition. Basically, we are looking at a deviation between the price and anything technical besides having a re-test of the key-area of support. An experienced trader would look for trades as close.
This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!
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