๐ $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.
๐ The Technical Setup:
โข The Pattern: Macro Double Bottom Reversal Structure
โข Short-term Target: $3.5000
โข Macro Objective: $5.3500
โข Market Structure: Potential reversal from long-term accumulation base
๐ฏ Key Levels to Watch:
โข Support / Accumulation Zone: $0.5000 - $0.7000
โข Resistance: $3.5000
โข Breakout Level: $1.0000
โข Stop Loss / Invalidation: $0.5000
๐ Confirmation:
โข Volume: Neutral/standard volume
โข Momentum: Early recovery bullish candles off macro lows
โข Trend: Macro range consolidation transitioning to potential reversal setup
โ ๏ธ 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.
๐ 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.
๐ The Technical Setup:
โข The Pattern: Macro Double Bottom Reversal Structure
โข Short-term Target: $3.5000
โข Macro Objective: $5.3500
โข Market Structure: Potential reversal from long-term accumulation base
๐ฏ Key Levels to Watch:
โข Support / Accumulation Zone: $0.5000 - $0.7000
โข Resistance: $3.5000
โข Breakout Level: $1.0000
โข Stop Loss / Invalidation: $0.5000
๐ Confirmation:
โข Volume: Neutral/standard volume
โข Momentum: Early recovery bullish candles off macro lows
โข Trend: Macro range consolidation transitioning to potential reversal setup
โ ๏ธ 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.
๐ Creator: NOUMAN_DON (@NOUMAN_DON)
#qtum #crypto #BinanceSquare #tradingview #TechnicalAnalysis
