Hello traders!
As mentioned in yesterday's post, @ozchartart/upcoming-changes
I'm moving my charting to this account!
Without further due let's dive into the chart!
Today the QSP/BTC chart on binance.
Last chart I made on QSP was 4 months ago, calling ~350 and ~525 satoshi targets.
(you can check that one out here: @ozchartart/usdqsp-btc-binance-technical-analysis-march-29-2020)
Fast forward to see what the chart looks like today:
https://www.tradingview.com/x/NUb2iHxd/
As you can see the price peaked right through the lower target of mine and then started a retrace.
The reason why I decided to post about QSP today is cos I once again see a good entry for a trade as the price retraced to the 1.0 fib level.
https://www.tradingview.com/x/clKDeCeD/
The 2 targets at ~350 and ~525 satoshi from the earlier post are still valid, thou i consider those to be more conservative ones incase of the next runup for QSP.
To get some additional targets I marked 2 local lows and pulled a fib, pretty much the lines and fib levels correlate perfectly, so I'd those to my target arsenal,
the ~690 and ~920 satoshi levels, as shown on the chart bellow:
https://www.tradingview.com/x/94amXUiZ/
Additionally i marked (with a red line) the ~177 satoshi level, which derived from the 0.786 fib level of the previous used fib, and the 0.382 from the new one, which if one is looking for a stoploss, could be set there, or at the 199 satoshi line, depending on personal prefrance.
Enjoy the trade ;)
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This post is NOT financial advice or any kind of recommendation, nor am I licensed to give one!
It is a personal opinion and view on the chart!
Intended for entertainment purposes only
Regards, OZ