IOTA has been trading sideways for some time since it recovered from the retrace from the run to ATH.
The prevailing trend should triumph and push the price out of the pennant. In this event, we have an immediate test of the 33k recent resistance level. Provided we break above this point, we will see it move onwards to test the ATH resistance. I don't think we break it on the first attempt, however we should establish a new support level at 33k - we may see some further sideways trading until the prevailing bullish trend pushes us up and over at which point we will see a bullish push to a new ATH.
Bullish push confirmed by breakout of 30k sats
Entry: 25k - 28k Stop Loss: 20k (tighten to ~23k if you enter at the higher end of the entry range) Target: 78k
As much as I like the sound of it 78k seems rather ambitious. Will be watching this one play out.
blueqrypto
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@isellbitcoins, fair - but I should have noted that this is not a 'crypto trade' (coming to fruition in the next 48 hours). Over the next couple of weeks I expect to reach 0.786 extension at which point I will take profits and wait for the wave 4 bounce to reload my position. 78k is ambitious but it's also a longer play than most in this space are patient enough to realise.