stamoyo
Long

IOT/USD Plausible price action

BITFINEX:IOTUSD   IOTA / U.S. Dollar
The chart is forming good looking waves and completes the final 4th one. It is an easy-to-recognize uptrend with no signals for reversal and the corrections and intermediate and minor trends are easy to spot at the daily chart . After the completion of the 4th wave, we expect a good upside move by the 5th wave. The RSI is under 50 points but not oversold yet. This is typical for a correction while extraordinary for a trend reversal pattern. The 105 and 56 EMAs crossed but the volume they measure is meager and will be outperformed by the upside move in no time. The volume has no spikes until the big red candle and is now quite low which is also natural for a correction.
Good luck everyone!
*DISCLAIMER: THIS IS FOR EDUCATIONAL PURPOSES ONLY*
Even though altcoins are all interelated in price movement with BTC, the strong and popular or even hyped ones like XVG, TRX, ADA and IOT etc. are slowly emancipating, especially since some of them solve BTCs problems. Even BTC solved its problems. It's bound to go up and its bound to be successful, by its very technical structure and its value in power, security and certainty. People are waiting, they want to buy. Esspecially the people that took so much profit in 2017, the smart ones, they are all eager to rebuy in on low levels. Everybody that participates in the crypto space is sitting on ember. It won't be much lower from here. People will not forget those massive gains of 2017, because it was such a pleasureable experience. People always want to repeat the pleasureable experience. So will the cycles repeat. Don't forget what happend. Last year around this time overall marketcap was just 20 billion. Look at where we are now? I don't think we see so much lower on the overall level again. All folks that hodl'd their cryptos until now, through this long correction and bear market. Who would be so stupid to sell now? In loss even? Slowly the sellers will run out until there are only buyers left. Decentralized exchange of value is the future. It does't matter under which name it will present itself. The supreme technology will succeed, sooner or later. No bear market will last forever. Nothing will last forever. Esspecially not our current banking system with all its flaws and suppression of the people who with their abilitys and material value are the only value there really is. Once the bear sentiment has changed and it has. Collective mood is moving in waves which reflects the price. With all the news and opinions are received. Overall right now the only thing I see is that we already moved from a bearish sentiment to indecisive sentiment. Nobody knows where to go which is reflected in the BTC price right now. We were going from super bullish to super bearisch and now we are slowly crossing over to super bullish again. Its like day and night. Nothing more. Nothing less. Right now we are at predawn.
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no altcoin mooning anytime soon, it's only possible when BTC is in growth or FOMO, and now it's consolidating of bearish, we still don't know.
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stamoyo CryptoJulio
@CryptoJulio, Dow says it's an uptrend until there are sings of a downtrend ( or sideways ). FOMO is obviously not in our agenda. Its bearish consolidation is only of the intermediate trend, if it is true. Thank you for the feedback. Let's see if the TA is true.
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