Yellow = Buy Zone
Green = Sell Targets
Red = Stop loss zone
If you choose to use this information as a trade opportunity I do not recommend buying in above the buy zone. Let the price come to you and be patient. Trade safe!
Due the overall market action there are many falling wedges taking place on the daily charts.
The stochastic RSI and RVI in conjunction signal that the price has room to fall and the volatility could lessen as well. If the price falls then generally the volatility will lessen which leaves room for buying pressure to move back in.
I would expect a continued drop over the next few days in price and between the 15-18th we could see the price reach it's first potential breakout point at A. The support here is reinforced by the fib level as well as psych support.
If the support labeled at A does not hold then I would expect a bounce at the next level labeled at B.
Furthermore, there could be an upcross from the Chikou span in the next 7-10 days.
Time projection for price to reach supports.
Support A: 7/14 - 7/18
Support B: 7/21 - 7/25
Targets could take up to 2 weeks to be reached after that.
Green = Sell Targets
Red = Stop loss zone
If you choose to use this information as a trade opportunity I do not recommend buying in above the buy zone. Let the price come to you and be patient. Trade safe!
Due the overall market action there are many falling wedges taking place on the daily charts.
The stochastic RSI and RVI in conjunction signal that the price has room to fall and the volatility could lessen as well. If the price falls then generally the volatility will lessen which leaves room for buying pressure to move back in.
I would expect a continued drop over the next few days in price and between the 15-18th we could see the price reach it's first potential breakout point at A. The support here is reinforced by the fib level as well as psych support.
If the support labeled at A does not hold then I would expect a bounce at the next level labeled at B.
Furthermore, there could be an upcross from the Chikou span in the next 7-10 days.
Time projection for price to reach supports.
Support A: 7/14 - 7/18
Support B: 7/21 - 7/25
Targets could take up to 2 weeks to be reached after that.
Comment:
Trade opportunity here should be disregarded. Potential new opportunity if price breaks to the upside, one could use the last target as a scalp opportunity.
Comment:
Opportunity may be opening up as IOTA approaches the buy zone. Daily indicators are low. I would wait for price to drop to platform B before deciding to buy.
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