IOST has formed a big Cup & Handle on the daily chart and the price is very close to a breakup.
In this study we also have a fundamentalist support that is the Mainnet Launch on February 25 and will certainly bring good expectations to investors (Link: goo.gl/SRokM4).
The neckline of the figure is around 198, but I attach a margin of safety to consider the breakup valid, my idea is to go LONG with the closing of a candle accompanied by large volume in 202 satoshi or above in 4h chart or greater. (Timeframe to reach targets 10 to 20 days after breakout)
If you follow me, you must have realized that I am a big fan of chart patterns and throughout my 13 years of experience in technical analysis I can say that a well-defined pattern most often gives great profits.
In this case the first target would be around 20% gain (240sat) and the second target around 40%+(282sat).
RSI & MACD confirm the uptrend by demonstrating that the buying power has remained dominant in recent months and both oscillators are pointed up and on the "positive side of the scale."
Another important point is that the price has already exceeded the MA200 which also gives us a strong bullish signal.
The only downside is the volume that has not yet begun to grow, but this should occur if the breakout is confirmed!
Follow me and stay tuned to this analysis that soon can generate a beautiful call with opportunity of great profits!
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God bless!
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In the last 12hours IOST reached 199 satoshi but with very low volume and could not break the neckline of the cup & handle. The figure remains valid and we continue to follow and waiting for a possible breakup with candle closure above 201-202 with a good volume.
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Huge breakout with big volume... Going up as predicted.
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Pullback right now, if you dont entered, its time to!!!