CatoOzz33
Long

IOTA - Short Term - Trade Opportunity

BITFINEX:IOTUSD   IOTA / U.S. Dollar
Here is an idea for short term IOTA trading. IOTA is doing well despite BTC bullish run. Among 3 resistances shown in the chart, Resistance 2 seems to be the strongest. Once it is broken, the first target (5.5 levels) is easy to achieve. It is possible IOTA can swing back and forth within the support/resistance lines (especially between 3.5 and 4). We need to be patient. We have a strong support at 3 and 2.5. Currently it is at ~3.6, which is a good level to buy.

In my opinion, the chance of success for this trade is good. But keep in mind that any altcoin, including this one,can be affected by any major change in BTC movement. Therefore, watch out BTC trend closely.

*** As always, trade at your own risk and do your research before setting up a new trade.

Dec 26
Trade active: A'right.. We are now pushing the resistance 2. It looks like a solid upward movement. It may take some time or restest but we have a good momentum..
Dec 28
Trade active: We will retest resistance 2 again.. We are in good shape..
Dec 30
Comment: Sailing in the channel. Support 1 looks strong. Waiting for the Market (mainly BTC) to turn into bullish..
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