QSP/BTC - 18 month accumulation (700%+ ROE)

22 ก.ย. 2019

Despite the long, drawn out bleed of many altcoins on Binance - Quantstamp has continued to attract accumulators. This seems counter-intuitive given the declining price, however the OBV tells a different story. Ever since the week starting 26th March 2018, there have been buyers stepping in to (happily?) take ownership of the bags of disgruntled sellers. We can see multi-month OBV divergences taking place (the green lines) and also buying volume consistently exceeding selling volume. While I'm unable to find any upcoming news to serve as a potential catalyst for bullish price action, the 18 month accumulation we see tells a potent story.

Follow the money.

Reasons for the trade:

• As mentioned above, 18 month accumulation. Weekly OBV is also above its 13 period MA.
  
• At the POC - significant volume traded at this level.
  
• Willy also above its 13 period MA (first time since the beginning of April)
  
• Double bottom in price structure (see chart below)
  
• Many VPVR gaps above that need filling. Massive gap highlighted by red love heart <3 above.
  
• BTC dominance chart looking like it has topped out for now, allowing some breathing room for altcoins. Big week from all majors (ETH, XRP, ADA, TRX, LTC) usually leads to the beginning of bullish price action for mid-cap altcoins.
  

Note: The above is a weekly chart, this idea playing out will take a lot of patience!

22 ก.ย. 2019

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My prediction for bullish price action is as follows. This would give an inverse head and shoulders pattern, launching us much higher.

December might be a great time for QSP hodlers. ;-)