🔥 QNT Time For Reversal After Massive Bullish Move by FieryTrading on TradingView.com
I've made several QNT posts over the last couple of weeks. Now that QNT has reached my last target of around $230, I'm starting to look bearish before I can looking bullish again.
In my view, both the daily RSI and the huge volume spike yesterday are signaling a (local) top. The RSI was severely overbought on the daily, marking a value of 85 points, which is rare in the current market. Furthermore, huge volume spikes like yesterday's are often a signal of reversals.
My target for the intermediate term is around $160, potentially even lower if BTC decides to drop hard. After $160 I'll be starting to look for a daily higher low to continue the trend.
Patience!
In my view, both the daily RSI and the huge volume spike yesterday are signaling a (local) top. The RSI was severely overbought on the daily, marking a value of 85 points, which is rare in the current market. Furthermore, huge volume spikes like yesterday's are often a signal of reversals.
My target for the intermediate term is around $160, potentially even lower if BTC decides to drop hard. After $160 I'll be starting to look for a daily higher low to continue the trend.
Patience!
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