This is the morning after that pump - classic picture:
#QNT 15m - 295.82 (-6.58%)*
24h High 329 -> Now 295. That's almost $34 drop overnight.
- 16:00 to 18:00: Vertical pump to 320-329 with long wicks = *blow-off top*
- After 18:00: Red candles dominating, lower highs, long upper wicks = *distribution / profit booking*
- 274 wick at night = sweep low then buyers stepped in
- Now 290-299 range: small green candles trying to recover but *blue line 299.18 is acting as resistance* - failing there 3 times
Volume also down from 721k to 572k = momentum faded.
Pro read: Pump is over for now, it's in correction. If 292 breaks again, next support is 285 then 273 low. No long until it reclaims 299-304 with volume.
#QNT 15m - 295.82 (-6.58%)*
24h High 329 -> Now 295. That's almost $34 drop overnight.
- 16:00 to 18:00: Vertical pump to 320-329 with long wicks = *blow-off top*
- After 18:00: Red candles dominating, lower highs, long upper wicks = *distribution / profit booking*
- 274 wick at night = sweep low then buyers stepped in
- Now 290-299 range: small green candles trying to recover but *blue line 299.18 is acting as resistance* - failing there 3 times
Volume also down from 721k to 572k = momentum faded.
Pro read: Pump is over for now, it's in correction. If 292 breaks again, next support is 285 then 273 low. No long until it reclaims 299-304 with volume.
