PrecisionTrader 🔺 Profile picture
Aug 2, 2022 6 tweets 4 min read Read on X
1/
What #QNT price action has done in the past and what it could do in the future. A 6 part thread.

Here's a recap. Daily Log chart since price began. Major upside move (green), it's downside correction (red). Orange blocks are the % retracement each time
2/
So far #QNT had 6 major upside moves and subsequent corrections. Downside over the last 8 months is nothing special, >78% retracement using a fib like bottom right. 78% or more is what it's done 4 out of the total 6 major corrections.

What could the price do going forward ?
3/
Zooming into block 6, let's assume #QNT's 2021's rally from $23 in May to $438 in Sep was solely due to speculative buying as no known purchasing of licences occured back then, so no major institutional utility involved in that rally that I'm aware of.
4/
So a #QNT rally equal in magnitude to last year, simply from retail FOMO again, then off the $37 low in June 22, the upside target X is $687, and don't forget the whole of last years move occured in 3.5 months. That's what is possible when the time is right, but there's more..
5/
Recently strange #QNT wallet behavior shows possible institutional utility. What happens to price when retail FOMO and institutional utility/lockup's occur together in a low fixed supply token ?
6/
Looking at this run off the June $37 lows compared to #QNT's rally last year (green circles), the similarities are clear. Will it do the same again, who knows, but if retail FOMO and institutional utility occur together, price action is likely to be something unprecedented

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More from @CryptoPrecision

Oct 10, 2022
1/

#QNT upper channel (green) and $155 horizontal resistance was always going to be a fight, as described in previous threads. With the 5 wave Elliott Impulse wave formed off the $86 (2/B) low, we’d expect a pullback first before the upward trend resumes. Where to ... Image
2/

If a #QNT pullback is happening now, a 38%-50% downward retracement ($126-$136) would be common in a strong upward trend (target X) left Fib, which also coincides with strong $134 horizontal support and lower channel support (red). Image
3/

If #QNT breaks upper channel resistance now, then I think we headed for either Wave C/H&S/3 now (right Fib), but a small pullback before those targets are reached would make sense.

See this thread about how Wave C / H&S / 3 targets were constructed:
Read 9 tweets
Sep 23, 2022
1/

#QNT is at very NB levels in 3 charts

QNTUSD 4H chart has a major level of resistance to get through, green circles ($110), a closing break would be bullish.

Close below red = bearish

Sitting currently between two NB levels, so in limbo for now, look for a breakout Image
2/

QNTBTC Daily chart broke up through 0.0052 resistance (green circles) and that level has become support = bullish Image
3/

QNTETH Daily chart has some major resistance directly overhead to get through, 0.0832 (green circles), a closing break above that level = bullish

Close below red = bearish

Sitting currently between two NB levels, so in limbo for now, look for a breakout Image
Read 12 tweets

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