Very good performance has been shown by IOTA during the past week. IOTA has outperformed Bitcoin by 130%, rising from BTC 0.000045 up to the current price that is BTC 0.0001
While it was at the bottom testing BTC 0.000045 IOTA/BTC has formed a bullish divergence of the RSI oscillator. The strong wave up that has followed resulted in the break above the 200 Moving Average, that actually happened just today.
The short-term trend remains bullish and IOTA should be testing one of the Fibonacci resistance levels applied to the corrective wave after the middle trendline of the descending channel.
There are 3 upside targets that would correspond with the upper trendline of the descending channel as well as 2/1 trendline of the Gann Fan.
327.2% Fibs - BTC 0.000112
427.2% Fibs - BTC 0.000125
527.2% Fibs - BTC 0.000138
While it was at the bottom testing BTC 0.000045 IOTA/BTC has formed a bullish divergence of the RSI oscillator. The strong wave up that has followed resulted in the break above the 200 Moving Average, that actually happened just today.
The short-term trend remains bullish and IOTA should be testing one of the Fibonacci resistance levels applied to the corrective wave after the middle trendline of the descending channel.
There are 3 upside targets that would correspond with the upper trendline of the descending channel as well as 2/1 trendline of the Gann Fan.
327.2% Fibs - BTC 0.000112
427.2% Fibs - BTC 0.000125
527.2% Fibs - BTC 0.000138
Trade closed: target reached