#Iost Trade-setup $IOSTBTC $iost #crypto $crypto

#Iost has started a new impulsive wave sequence, after being in a correction period for 20days retracing to 470-480 sats region as expected.

This was posted on 22 April:

Now, #Iost has started a new impulsive sequence since then,

Currently it is facing resistance around 600 region, after Wave 1 made a swing high of 608.

In the 1D t-f we can see #Iost facing resistance at the 20 & 50 DMA levels (585 & 582)
RSI is facing resistance around 50 level.
Yesterday's close was above 20 & 50 DMA levels, if today it manages to close above 585 then we can expect it to rally to 650 region

In the 4H t-f #Iost has support at the 20, 50 &100 SMA's (558,541 & 570)

In the 2H t-f we can see #iost losing momentum as shown by the Divergences in RSI & stoch with overbought levels, so we can expect a short term pullback.

Ideal entry will be to enter on this pullback:

Open: 540-545 (Taking Wave 2 retracement around 50fib region)

Target 1: 670-680 (Taking Wave 3 as 1:1fib ext of Wave 1)

Target 2:750-760 (Taking Wave 3 as 1.618 fib ext of Wave 1)

Stop loss: 525 (below the 61.8fib retracement)
Risk: 3.14% Risk:Reward: 12.7

Trade active

Comment:

#IOST Trade live! Sl trailed to break-even, as view is bearish with ts-ks cross in 1D and price below 20DMA, if stopped, looking to re-enter after break above 20DMA is confirmed for #iostbtc
t.co/mHDc3FV5xI