BINANCE:IOTAUSD   IOTA / US Dollar (calculated by TradingView)
Hey Guys:

BINANCE:IOTAUSD is our next coin of discussion. I'm a big fan of their work.

Not only am I a big fan of their work, but I'm also a big fan of their W and 1D charts. Most of my ideas will be with a long-term mindset.

Please remember that these are just my opinions. I'm always open to discussion on the ideas and what I'm talking about.

Entry Point:

I'm slowly accumulating more and I'll be keeping that strategy. Just looking for good opportunities.

I think we're safe to buy until the ~$.80 b/c it'll face some resistance at $1.
I make this statement with two assumptions:
  • that the resistance faced September of 2018, which is marked with the red arrow, will not be an issue for us, and
  • The breakthrough of the 1 Fib level on the 1D chart will give us some challenges but we'll eventually overtake it.

If it can cleanly pass the $1 - $1.10, we're safe until around $1.35 - $1.40. It'll face some resistance at the 0.236 Fib level. Then we can just rinse and repeat those steps for each Fib (How to use the Trend-Based Fib Extension). I'll be updating the comments as this unfolds. It should be fun.

Target Points:

(1) 1.7
(2) 2.67
(3) 3.44
(4) 4.20 (nice)
(5) 5.28

Stop-Loss:
We'll have to wait to see if $0.20 can hold. If not, we'll turn this into a selling game.

Indicators:

Weekly

FIbonacci
  • The Trend-Based Fib Extension is used to guage potential support/resistance levels after we've gone through a correction of the previous trend. This is where the Price Points are taken from.

Moving Averages
  • Our 50-MA (blue) has had enough data to take its trend into consideration when making a purchase order. It's starting to smooth out its downtrend which could indicate a change of direction. We'll have to watch as this develops.
  • If the 20-EMA (orange) can hold above the 50-MA for a bit, we'd be in a good spot.

Sniper T3-CCI
  • Waiting for this to move above the line could be the conservative play here.

Volume
  • The sell volume seems to be getting smaller. Let's look for a spike one of these weeks to indicate some direction.

Candlesticks

Summary
There's a bunch of information here. But the most important thing is that we're thinking long-term. Well into and past next year. We'll update price points as this unfolds but for now, we're looking to lock in some profits between now and the ~$1.4 mark.

Good Luck!

-Matt
Thanks Matt. I'm adding to my bag and following along.
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MattRuiz620 mattgarbutt
@mattgarbutt, I like your style.
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