Trade Recommendation: Qtum

The price is going to bounce from the support zone which is formed by the uptrend line from the higher time frame and 0.035000 support level. RSI confirms price reversal and MACD histogram supports upward movement. It’s a trading opportunity.

Pending orders for buy should be placed at the 0.035300 level with stop orders at the 0.033700 level. Profit targets are 0.038000 and 0.042000 resistance levels. If you don’t use leverage, trading volume for this trade is up to 5% of your deposit.

Market: QTUMETH
Buy: 0.035300
Stop: 0.033700
Profit Targets: 0.038000 and 0.042000

The trading signal is based on Bittrex chart.
Disclaimer: The analyst does not have investments in Qtum.

Featured image courtesy of Shutterstock. 

Author:
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.