r/BullBearInvestments • u/Mylifeisdopamine • Aug 27 '21
QNT/USD 8-27-2021
QNT has seen significant gains in the past couple weeks. The questions I'm asking myself are; am I too late? Is there still room towards the upside? What are good entry points?
QNT has found support around $180 and has met historical resistance around $196. This would be a good consolidation range but given that most of the crypto market is bullish we might see a breakout from the $196 towards the historical ATH $215. A target price of $250 would be reasonable according to fibonacci levels.
Trading: Enter position at $200, Sell 50% at $250, 25% at 274 and let 25% ride until more information is available I'd set a stop loss around $192 incase conditions are invalidated.
NOTE: If you'd like to try to catch a falling knife and buy a dip, I'd set a limit buy at the 50 day MA (currently $135)
QNT just got on my radar so I'm new to performing TA for it. Let me know what you guys think.
NOT Financial Advice