This pattern has been built since mid-August.
The has hit a triple bottom and now looks ready to turn again.
BTC/USD also is currently building a in an uptrend ( reversal pattern), which can indicate that the price of BTC will correct a little. This will also help QTUM/BTC to rise.
We have recently seen many alt-coins go up into impressive run ups ( , IOTA, XRP, ETH, LTC, and so on).
People are psychologically being attracted to strong moves in prices, and QTUM could be the next on the list.
The price is currently testing the 23.6% Fib. retracement measured from the high August 11 (I didn't choose the ATH on August 10 because I think the Fib. levels were not as relevant as the ones I used).
Price is also currently building flags in the smaller time frames (1h and lower), which are continuation patterns.
I think an entry point for this market would be now.
My targets are the 61.8% and 78.6% Fib. retracements, respectively at 0.0034 (around +100%) and 0.0040 BTC (around +135%).
The trade would be considered a failure if price were to re-enter the .
This is not financial advice, this is just my opinion. Any comment is appreciated.