Hello crypto friends! IOTA has seen some positive news today with the integration of Jaguar/Land Rover, which lead to a nice 15% move already.
We're currently inside an Hourly equilibrium in both USD & BTC and could still see some follow-through.
In USD we have a resistance zone of 32-33, which we'd have to clear to be able to move higher. TP would be 34 & 37.
In BTC we would already face resistance at the .65 region from the prior S&R zone. If we could pass that, .67
As always, grandpa BTC would have to be at least neutral, better bullish, for this scenario to play out. Otherwise IOT/USD has much room to correct to, 30 or even more, before it can further tighten inside that wider range. BTC is currently still in a bear flag on the 4H.
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Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
We're currently inside an Hourly equilibrium in both USD & BTC and could still see some follow-through.
In USD we have a resistance zone of 32-33, which we'd have to clear to be able to move higher. TP would be 34 & 37.
In BTC we would already face resistance at the .65 region from the prior S&R zone. If we could pass that, .67
As always, grandpa BTC would have to be at least neutral, better bullish, for this scenario to play out. Otherwise IOT/USD has much room to correct to, 30 or even more, before it can further tighten inside that wider range. BTC is currently still in a bear flag on the 4H.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Comment:
IOTA didn't see any follow-through to the news reaction, watch out for the 30 cent psychological bottom:
