IOTA is touching the ''Death cross''

Looking at the IOTBTC chart, I noticed that the price is under 2 important points of resistance.
- The previous support which acts now as resistance at 0.000159-0.000165
- The Death cross (50MA crossing the 200MA) is just above the resistance

Also I have to mention that I do not trade the death cross sell signals blindly. This time I like very much the fact that the price action is really close to the death cross. There are 2 ways I could enter this trade. First is to enter when I got a new daily low, at 0.000153. The second way is to wait until the price gets near to the 50MA. In this case I got a great risk reward but the chances of being stopped out are more. Last thing, from fundamental perspective I believe that IOTA is still overvalued vs BTC (as most of the altcoins) and there is more downside in the longterm.
Trade active: Missed the entry at 0.000153 but the trade is technically active
Trade closed manually: We have a nice 5.4% profit on the total position.
I ll close 50% of my position here, as we reached the first resistance level
Moving the stop loss of the rest 50% position to breakeven
Comment: Stop loss of the rest 50% of my position is moved to 0.0148 locking some more profit
Trade closed: target reached: Trailing stop loss hit for a profit of 2.5%
So 50% of the position closed for +5.4%
The rest 50% closed for +2.5%
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out