25 oct -> Will iota break out its pattern and finally go up?!
In the last couple of days, you see that the price moved in a consolidation pattern, which is the falling wedge. Now the question is, in which direction if the price going to break out?
Well there are a couple of things that could indicate that the price is going to break out to the upside
1. The price is at a support line
2. The last candlestick ended up in a hammer, also you see a high volume on this candlestick pattern.
3. You see that the volume is rising
Because of this, it is likely that the price is going to break out upwards. There are multiple ways to enter here, always check out if the risk/reward is perfect for you:
- When the pattern is broken, which is safer
- Buying at the support zone, which is a bit riskier
- Entering anytime soon is the riskiest
Stop loss:
- Below the support zone 0.000074996
- Trailing stop, if there is an uptrend
Target:
- See the yellow areas above
If you need any help with TA or explaining this, send me a DM!
DISCLAIMER: ALWAYS keep in mind! That this is NOT an investment advice, but an analysis. You can do whatever you want with this information, so trade at your own risks!
Well there are a couple of things that could indicate that the price is going to break out to the upside
1. The price is at a support line
2. The last candlestick ended up in a hammer, also you see a high volume on this candlestick pattern.
3. You see that the volume is rising
Because of this, it is likely that the price is going to break out upwards. There are multiple ways to enter here, always check out if the risk/reward is perfect for you:
- When the pattern is broken, which is safer
- Buying at the support zone, which is a bit riskier
- Entering anytime soon is the riskiest
Stop loss:
- Below the support zone 0.000074996
- Trailing stop, if there is an uptrend
Target:
- See the yellow areas above
If you need any help with TA or explaining this, send me a DM!
DISCLAIMER: ALWAYS keep in mind! That this is NOT an investment advice, but an analysis. You can do whatever you want with this information, so trade at your own risks!