QTUM/BTC has been in a choppy bearish trend, a sign of underwhelming interest. However, it could be gearing up for a price bottom, even if it is a temporary one as we have seen before.
- Note the head and shoulders formed.
- Also note that a previous head and shoulders resulted in only a brief bullish push and price action remained in the context of the bearish trend.
- We should prepare for this possibility.
Tentative Trade Plan:
- Use the shoulder as a key support pivot.
- Enter around 0.00165000 BTCs.
- Stop: 0.00148000 (if price breaks below this, we should monitor the 0.00125000 area for next support.)
- Target 1) 0.00190000
- Target 2) 0.00220000
- Target 3) 0.00260000