Not surprisingly QTUM has also left the negative trend channel as almost all other big coins have done before.
QTUM is a token with an own blockchain, not comparable for example with OmiseGo - they untilize the Ethereum-Blockchain and they haven´t yet launched their own coins / tokens; they will do sometime in the future.
One rumour tells that the QTUM-Blockchain has been launched into space with the last chinese rocket. The QTUM-Blockchain shall be efficient for space-works. And the space isn´t regulated at time. Don´t know if it´s true, but it´s a funny story.
Technically QTUM has fallen within the negative trend channel, as other coins did. So there is much correlation. On the other hand one can see that it is more correlated to ETH than to BTC (in the downtrend) - with less volatility.
In the uptrend the correlation was less given. So this could give an example for future development.
We have seen two big pumps into QTUM. First on dec 15, second on dec 18. On the end of the crash both events have been neutralized.
The last movements weren´t driven by volume. In the contrary, the price rose even with very poor volume.
RSI and MACD are in positive terrain, not overbought, not euphoric, not much momentum.
The price of QTM has upbroken the fib retracement (78.6%) - which has been a swing trend line as well - and arrived at the upper limit of an ascending triangle.
The question is, will it has enough dynamic to break through this line? This would give a buy signal.
Or will it stay within the triangle another day or two?
Or will it even break down the triangle, under the current support-leven? In this case hold your assets.
Worse case scenario: it falls back to the negative trend channel and below support at fib retracement 23.6% (27.46$). In this case all the temporarily positive movement is lost and we have to wait for a new buy signal.
(fib in uptrend: continuous line / fib in downtrend: pointed line)
QTUM is a token with an own blockchain, not comparable for example with OmiseGo - they untilize the Ethereum-Blockchain and they haven´t yet launched their own coins / tokens; they will do sometime in the future.
One rumour tells that the QTUM-Blockchain has been launched into space with the last chinese rocket. The QTUM-Blockchain shall be efficient for space-works. And the space isn´t regulated at time. Don´t know if it´s true, but it´s a funny story.
Technically QTUM has fallen within the negative trend channel, as other coins did. So there is much correlation. On the other hand one can see that it is more correlated to ETH than to BTC (in the downtrend) - with less volatility.
In the uptrend the correlation was less given. So this could give an example for future development.
We have seen two big pumps into QTUM. First on dec 15, second on dec 18. On the end of the crash both events have been neutralized.
The last movements weren´t driven by volume. In the contrary, the price rose even with very poor volume.
RSI and MACD are in positive terrain, not overbought, not euphoric, not much momentum.
The price of QTM has upbroken the fib retracement (78.6%) - which has been a swing trend line as well - and arrived at the upper limit of an ascending triangle.
The question is, will it has enough dynamic to break through this line? This would give a buy signal.
Or will it stay within the triangle another day or two?
Or will it even break down the triangle, under the current support-leven? In this case hold your assets.
Worse case scenario: it falls back to the negative trend channel and below support at fib retracement 23.6% (27.46$). In this case all the temporarily positive movement is lost and we have to wait for a new buy signal.
(fib in uptrend: continuous line / fib in downtrend: pointed line)
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Decision prolonged. QTM now in adjusted triangle. The given analysis (above) is still alive.