The great correction has been ongoing for 9 months. The period at the blue flag could be the capitulation zone. The main support was broken. After this the price has been consolidating and building a new bottom, or so it seems. The green arrows indicate points where the new support is tested over the last few weeks. The biggest downtrend lines have been broken and IOTA has now corrected from the last pump after breaking these lines. ( Last 2 weeks ).
So it seems IOTA is ready for good news to have a lasting effect again. And good news is comming in Q4 with Qubic and partnerships starting with real life products in Q1 of 2019. ( With Volkswagen ( VW ). Also AUDI, Bosch, Fujitsu and big energy companies are now working with IOTA. In The Netherlands there is already a charging station for electric cars running on IOTA. And this is only the beginning..
Please let me know if you agree IOTA is on a breakout point and a good investment for the next decade or two. ( Or just a thumbs up if you appreciate this idea )
All depends on BTC. if BTC has a massive sell and falls out of the wedge over the next weeks, the IOTA price will follow and all alts will be hit hard again. This is a possibility, we all know some big money investors was a bit dissapointed they could not push the price lower than 5.8k.
That said, you are right with this TA. IOTA and some other alts all show indications of strong support lines holding and building momentum. I would advice people to watch btc close the next couple of days, since it is the deciding factor.
That said, you are right with this TA. IOTA and some other alts all show indications of strong support lines holding and building momentum. I would advice people to watch btc close the next couple of days, since it is the deciding factor.
Happy trading.