aezesel

IOST - Major Downward Trend

BINANCE:IOSTBTC   IOStoken / Bitcoin
Note: I am not a financial advisor. These are my honest opinions about IOST.

IOST BTC             keeps going down -- the chances of a full reversal / recovery are looking slimmer by the hour.

I've sold all of the IOST I had already at a small loss, I'm predicting that the price will drop by another 10% in the next 24 hours, following this bearish pitchfork channel.

As said on the chart, I wouldn't even short trade this unless every indicator you're using is strongly suggesting an opportunity.

DYOR
Comment: Note: The ~780 satoshi level WAS the major support.
Comment: It nearly broke through this morning but hit the upper resistance of the pitchfork and Ichimoku Cloud, then fell down after.
Comment:

Possible breakout incoming
Comment: If a breakout doesn't happen, there is indication of IOST stabilizing.
Comment:

Forming a symmetrical triangle, RSI is indicating that IOST is slightly overbought right now so I'm projecting downward movement - but there's potential short term gain if it breaks to the upside.
Trade active:

It appears that there has been a break through. Strong signals from the Ichimoku Cloud indicating a price increase. It broke through the cloud but is hovering at the upper pitchfork resistance.
Comment:

Serious potential for a reversal on IOST BTC. Watch the 660 satoshi resistance level, it it breaks through that's a fantastic sign --- otherwise it's going to form a double top and likely crash quite a bit further.
Comment: it appears that 660 is the new support level, I'm expecting a trend reversal -- I think that will be all for this analysis. Due to a sudden surge in volume the price probably won't hit 550 satoshis today.
Comment: Strange... the price has been bouncing off of the pitchfork top level support multiple times now. It did end up hitting ~520 satoshis in two days instead of one as I predicted.
IOST is about to pop like an 11month pregnant mother!!! Elliot wave theory says that this is going to be the big one!!
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It appears that the IOST team have been giving free coins by airdrop, tanking the price.
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I think it’s about to pop!!!
+1 Reply
It’s a good project. Why going down?
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aezesel RajMore
@RajMore, I'm thinking the same thing. It look like there was a pump this morning but it couldn't break the cloud nor pitchfork.
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