Based on the Technical analysis from @haejin, which I respect and from whom I have learned a lot about TA, my own TA and as well Fundamental Anlysys, I will show you my BQX price projection.
A. For starters, this is @haejin's post (don't forget to follow him): https://steemit.com/bitcoin/@haejin/bitquence-bqx-projected-price-pathway-target-usd2-10-313-profit-potential
B. Using Fibbonaci extension tool, support and resistance lines, I have drawn the price targets BQX needs to accomplish, you can consider these lines as exit ladders (after 1 $ anytime you wish)
Fibonacci extensions are used in Fibonacci retracement to predict spaces of resistance and support in the market. These extensions involve all levels drawn past the basic 100% level; they are frequently used by traders to determine areas that will bring in profits.
Those Fibb lines translated into US $ are the following:
a. 1 $
b. 1.19 $
c. 1.60 $
d. 1.89 $
e. 2.81 $
f. 4.24 $
g. 5.65 $
h. 6.62 $
C. From a FA point of view:
We know the theory: An event shall come to justify the forecast.
Now, let's look what those events could be:
- BQX team is saving announcements until after the 25th. The reason for this is that they probably wish to get the right amount of attention, and in those times with the BTC fork that is not very likely. (Alpha is coming, plus they hinted some partnerships)
- DataDash one of the most subb youtubers is going to do a video about BQX project.
- Another big influencer will start promoting this project sometime in the next 2-3 weeks (approx). Last time he did this the price went from 0.20 $ approx to 1.30 $ (This is the big one).
Conclusion:
A conservative price target would be: 1.89 $
A realistic price target would be: anywhere between 2.81 $ and 4.24 $
An optimistic price target would be: 5.65 (to 6.62 $).
Legal: This is not financial or trading advice.
Very nice. The next impulse will move in Fib ratios!