Hey everyone! I would like to share my new analysis of IOTA where I identified a new triangle pattern that has been forming since December 6. This new triangle has a great height, so we can wait big IOTA price movements in next days. As you can see in the graphic, Volume has been decreasing in last days, which confirms triangle pattern formation. MACD is suggesting the formation of a down trend, therefore price can test triangle somewhere at 4.1.
As I suggested in my last post (linked below), I recommend you to open two STOP Orders: BUY STOP: 5.12920 Take Profit: 5.22694
SELL STOP: 3.88917 Take Profit: 2.72429
Remember numbers can vary depending on your risk profile and price expectations. The numbers I propose should be use as a reference :)
If you find this analysis helpful, don't forget to follow, like and comment. I use to upload new analysis daily :)
Comment
⋅
IOTA testing resistance line.
Comment
⋅
Price reaching the end of triangle pattern. Bearish movement coming?