đ $QTUM is showing a potential technical setup!
The weekly chart on Bybit displays a multi-year range structure printing a potential macro double bottom accumulation pattern near historic lows around $0.9523.
đ The Technical Setup:
⢠The Pattern: Macro Double Bottom Reversal Structure
⢠Short-term Target: $3.5000
⢠Macro Objective: $5.3500
⢠Market Structure: Potential reversal from long-term accumulation base
đŻ Key Levels to Watch:
⢠Support / Accumulation Zone: $0.5000 - $0.7000
⢠Resistance: $3.5000
⢠Breakout Level: $1.0000
⢠Stop Loss / Invalidation: $0.5000
đ Confirmation:
⢠Volume: Neutral/standard volume
⢠Momentum: Early recovery bullish candles off macro lows
⢠Trend: Macro range consolidation transitioning to potential reversal setup
â ď¸ Invalidation:
A weekly candle close below the $0.5000 support level would invalidate the setup.
QTUM is building a potential macro base at historic lows, making it an interesting asset to monitor for a continuation of the projected recovery path.
đ Creator: NOUMAN_DON (@NOUMAN_DON)
#qtum #crypto #BinanceSquare #tradingview #TechnicalAnalysis
The weekly chart on Bybit displays a multi-year range structure printing a potential macro double bottom accumulation pattern near historic lows around $0.9523.
đ The Technical Setup:
⢠The Pattern: Macro Double Bottom Reversal Structure
⢠Short-term Target: $3.5000
⢠Macro Objective: $5.3500
⢠Market Structure: Potential reversal from long-term accumulation base
đŻ Key Levels to Watch:
⢠Support / Accumulation Zone: $0.5000 - $0.7000
⢠Resistance: $3.5000
⢠Breakout Level: $1.0000
⢠Stop Loss / Invalidation: $0.5000
đ Confirmation:
⢠Volume: Neutral/standard volume
⢠Momentum: Early recovery bullish candles off macro lows
⢠Trend: Macro range consolidation transitioning to potential reversal setup
â ď¸ Invalidation:
A weekly candle close below the $0.5000 support level would invalidate the setup.
QTUM is building a potential macro base at historic lows, making it an interesting asset to monitor for a continuation of the projected recovery path.
đ Creator: NOUMAN_DON (@NOUMAN_DON)
#qtum #crypto #BinanceSquare #tradingview #TechnicalAnalysis
