Time Frame: 4H
Pair: IOTABTC
Option A for aggresive traders. Option B for more careful traders. Both have a risk ratio over 3:0. Ok, so let's look at at chart. We could see a potential cup and handle forming on 4H which indicate bullish movement upwards. The target would be the area around the dark green exclamation mark (To be more exact, between 0.50 to that mark). The blue exclamation mark is where the support lies, a break and close below this could indicate downfall to 0.786 fibonacchi. I have also spotted that there is a slight bullish divergence on the MACD, not super visible. The purple line is the resistance level, a break and close above that resistance line could send the price to our target. Keep in mind of false break out also (After it closes above the purple line). We have seen past price being rejected at this purple line so yeah... We can still get stoned while pecking through the roof window. A cross of MACD should also happen and there is still room for RSI upwards. On the other hand, we could also see a ascending triangle! The price should then hit the top, pullback a little bit (If support holds, then shoot up) (bullish move, follow the arrow).
Currently: The price tries to close above 50 EMA. Next stop would be to close above 200 EMA ~ (Better confirmation)
Pair: IOTABTC
Option A for aggresive traders. Option B for more careful traders. Both have a risk ratio over 3:0. Ok, so let's look at at chart. We could see a potential cup and handle forming on 4H which indicate bullish movement upwards. The target would be the area around the dark green exclamation mark (To be more exact, between 0.50 to that mark). The blue exclamation mark is where the support lies, a break and close below this could indicate downfall to 0.786 fibonacchi. I have also spotted that there is a slight bullish divergence on the MACD, not super visible. The purple line is the resistance level, a break and close above that resistance line could send the price to our target. Keep in mind of false break out also (After it closes above the purple line). We have seen past price being rejected at this purple line so yeah... We can still get stoned while pecking through the roof window. A cross of MACD should also happen and there is still room for RSI upwards. On the other hand, we could also see a ascending triangle! The price should then hit the top, pullback a little bit (If support holds, then shoot up) (bullish move, follow the arrow).
Currently: The price tries to close above 50 EMA. Next stop would be to close above 200 EMA ~ (Better confirmation)