$QTUM is bouncing 4% today, but this bounce has a problem nobody is talking about
Price is at $0.7005 after defending $0.6647 low. On screen this looks like a recovery. On 4h chart the story is different. We are still making lower highs. 0.9639, then 0.8890, then 0.8142, then 0.7393, and now we are at 0.7005. This is still a downtrend, not a reversal yet.
The hidden detail is volume. Turnover is only 13.60K. A 4% bounce on 13.60K turnover is not real buying, it is just a thin bounce because sellers paused. Real reversals come with volume. This one has no volume behind it.
On 1D chart the bigger picture is even clearer. High was $1.0815, low was $0.6199. We are down 35% from that high and still sitting near the bottom. Price is trying to hold above $0.6647 for now, but it has not reclaimed anything important yet.
My levels are simple. Support is $0.6647, then the big one $0.6199. If $0.6647 breaks again, $0.6199 is next. Resistance is $0.7128, that is today high. Above that $0.7393 and $0.7625. I need a 4h close above $0.7128 with real volume to believe this bounce.
I am not chasing $0.7005 middle. If we hold $0.6647 and close above $0.7128, I look long toward $0.7393, stop below $0.6647. If $0.6647 breaks, I step aside, short toward $0.6199 only on confirmed close below. Risk 1 to 2% only, 5x to 10x isolated max.
Tell me honestly, is this a real bounce or just a dead cat bounce before $0.6199?
Comment UP if you think $0.7128 breaks, DOWN if you think $0.6647 breaks.
Tap $QTUM to trade this low volume bounce
#qtum #QTUM/USDT
Price is at $0.7005 after defending $0.6647 low. On screen this looks like a recovery. On 4h chart the story is different. We are still making lower highs. 0.9639, then 0.8890, then 0.8142, then 0.7393, and now we are at 0.7005. This is still a downtrend, not a reversal yet.
The hidden detail is volume. Turnover is only 13.60K. A 4% bounce on 13.60K turnover is not real buying, it is just a thin bounce because sellers paused. Real reversals come with volume. This one has no volume behind it.
On 1D chart the bigger picture is even clearer. High was $1.0815, low was $0.6199. We are down 35% from that high and still sitting near the bottom. Price is trying to hold above $0.6647 for now, but it has not reclaimed anything important yet.
My levels are simple. Support is $0.6647, then the big one $0.6199. If $0.6647 breaks again, $0.6199 is next. Resistance is $0.7128, that is today high. Above that $0.7393 and $0.7625. I need a 4h close above $0.7128 with real volume to believe this bounce.
I am not chasing $0.7005 middle. If we hold $0.6647 and close above $0.7128, I look long toward $0.7393, stop below $0.6647. If $0.6647 breaks, I step aside, short toward $0.6199 only on confirmed close below. Risk 1 to 2% only, 5x to 10x isolated max.
Tell me honestly, is this a real bounce or just a dead cat bounce before $0.6199?
Comment UP if you think $0.7128 breaks, DOWN if you think $0.6647 breaks.
Tap $QTUM to trade this low volume bounce
#qtum #QTUM/USDT