QIUSDT Analysis after Strong Breakout
QI/USDT recently broke out of its month-long range, with strong volume. QI is now sitting at a bull flag and a new trendline in the 1H, that can strengthen the new uptrend. RSI is not looking ideal, as there is a bearish divergence, but it is not confirmed yet. 9-EMA is bullish.
QI can continue rising higher if it breaks 0.218(green line in chart).
After the breakout, a good short-term target would be 0.300, as it is a "milestone" number. A good stop loss would be at the bottom of the bull flag or the trendline.
Do note though, that we are in a bear market. This may decrease the profitability and movement of this cryptocurrency. Keep an eye on the price and RSI for the bearish divergence.
Do your own analysis first before trading, and have a good day.
QI can continue rising higher if it breaks 0.218(green line in chart).
After the breakout, a good short-term target would be 0.300, as it is a "milestone" number. A good stop loss would be at the bottom of the bull flag or the trendline.
Do note though, that we are in a bear market. This may decrease the profitability and movement of this cryptocurrency. Keep an eye on the price and RSI for the bearish divergence.
Do your own analysis first before trading, and have a good day.
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