IOTA/BTC 1D (Binance) Wedge break-out and on channel support
Miota is sitting on the same old accumulation support, PA & RSI just broke-out a falling wedge (rose ones).
I'm expecting a small pull-back to give us a good entry, but you can enter now if you prefer.
This set-up is for short-term, but mid-term could be huge if it manages to close above big wedge resistance (beige one):
Buy Entry= 0.00002202 - 0.00002150
Take Profit= 0.00002365 | 0.00002547 | 0.00002889
Stop Loss= 0.00001987
Risk/Reward= 1:1 | 1:1.96 | 1:3.77
Expected Profit= 8.69% | 17.05% | 32.77%
Possible Loss= -8.69%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 1x | 3x | 5x
I'm expecting a small pull-back to give us a good entry, but you can enter now if you prefer.
This set-up is for short-term, but mid-term could be huge if it manages to close above big wedge resistance (beige one):
Buy Entry= 0.00002202 - 0.00002150
Take Profit= 0.00002365 | 0.00002547 | 0.00002889
Stop Loss= 0.00001987
Risk/Reward= 1:1 | 1:1.96 | 1:3.77
Expected Profit= 8.69% | 17.05% | 32.77%
Possible Loss= -8.69%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 1x | 3x | 5x
Trade active:
As you can see, the pull-back gave us a nice average entry and bounced on support as expected. Time of truth!
Trade closed: target reached:
TP1 hit with +8.69% from average entry (43.45% 5x) 😎
