Weekly update on the current state of play on $QNT. To start with we’ve just made a higher high for the first time in over 12 months!
As happy as I am with this scenario we need to break 160 yet which depends on what #BTC is doing which I’ll cover later in the thread.
🧵 1/9
Another way of looking at price action on the USDT pair is the upward channel we’re currently sat in…
🧵 2/9
Over on the BTC pair…well fuck me. Keeping my eye on the weekly RSI. Notice last time we topped out on the RSI at 85 we tapped it twice with an 80% further move to the upside inbetween. This is going for ATH and “may” even break it. Similar set up on the ETH pair.
🧵 3/9
That leads us to #BTC. And here’s my problem. It looks like shit. If BTC tanks it will drag everything down and thats the only reason I’m cautious right now.
🧵 4/9
LTF view of #BTC. We’ve got like 2 weeks for BTC to make a decision. Break the trend line and everything points up. Lose support and everything including QNT will shit the bed.
🧵 5/9
So what is this guy on Twitter actual saying to me? Well for me QNT has outperformed the entire market in this bear market meaning upside potential in the next market wide bull run is HUGE. The sentiment of the market is $QNT is the right horse to back.
🧵 6/9
That being said all eyes as always are on what BTC does next. If it loses support we could top out anywhere between here and 160. If BTC flys then QNT could test and eventually break ATH.
🧵 7/9
I’ll finish with some hopium (not financial advice). The chart below is the log chart for QNT MC. Two points here (1) if we fall I see the low at 1.1b MC (around $90) and (2) if we fly we could test the ATH a number of times over 3 to 4 months before we break it.
🧵 8/9
Whatever happens my target remains $8k+ in 2025.
🧵9/9
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