IOTA - strong up trend near reversal ? wait for confirmation
Market moves within strong up trend structure after last weeks breakout from drawn triangle. RSI is already in correction but market up trend is still intact which is a bullish indicator. MACD baselines looking like bullish crossing of baselines is incoming and baselines stay above zero line/ bearish area, which is bullish indicator.
The up trend is intact as long as the trend line breaks and a 4-hour candle closes below it, this is a clear sell-signal.
In my opinion Iota is a great project, but still needs a while until the token can actually be used. At the moment there are no known big events or technical developments that could bring another strong uptrend in market price. It remains to be seen how the Bitcoin price will develop on which the rest of the crypto currency market depends.
The up trend is intact as long as the trend line breaks and a 4-hour candle closes below it, this is a clear sell-signal.
In my opinion Iota is a great project, but still needs a while until the token can actually be used. At the moment there are no known big events or technical developments that could bring another strong uptrend in market price. It remains to be seen how the Bitcoin price will develop on which the rest of the crypto currency market depends.
Trade closed: target reached
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.