롱

Is QKC in accumulation!?

업데이트됨

Hello all :)
Recently spotted this coin, and immediately fell in love, so I thought I'd do an analysis on it!

As you can see, QKC has held a very major bullish trendline since capitulating in August.
We have established this trend line as major support. As you can see, price has now touched this trend line.
So far, the daily is showing a bearish engulfing candle, but it still has 3.5 hours to invalidate that.
Even if the bearish engulfing candle fulfills, I still expect this coin to begin uptrend within days.

RSI is showing bullish divergence that has been building for the past few weeks.
RSI is at 40 which is a historic bullish reversal level - especially on the daily.
We have a fairly significant spike + subsequent rejection days ago.
I suspect this was a whale initiating a very large buy order.
I can back that assumption up slightly with the fact that there is a 'head' forming from my price discovery strategy.
As it stands, QKC has held this range for approximately 19 days. No significant attempts at downside.

Honestly at this point, the only thing that slightly worries me is lack of volume.
The good part about this trade though is it's pretty easy. A daily close with momentum below this trendline is a 100% sell signal.
The stop is a bit loose just in case there is a fakeout to the downside, but the R:R makes this trade WELL worth the risk.
Take profits marked on chart.
Capital allocation 10%.

GL :)

노트

After just checking out various timeframes, I spotted this:

Bullish div. in the 6h, and what appears to be a weak diagonal trendline resistance break.

Checking out the 2h timeframe, it APPEARS at first glance like there may be a little bit more downside to go before we begin uptrend. There was a huge spike downwards because of the little fit BTC had earlier this morning.
keep an eye on this 2h RSI for bull div.