andyhitchman

IOTUSD near trend reversal. Waiting on confirmation

BITFINEX:IOTUSD   IOTA / U.S. Dollar
Broken channel and down trending resistance. Making tentative higher lows.

Broken above 10D and 30D EMA . 10, 30 & 50D SMA converging, which is a strong lead to a potential reversal.

Bullish indications on 1D MACD-H, RSI and EFI .

Stochastic showing slightly overbought. Expecting a 2--4 correction and then bullish behaviour.

Will long if can break and hold above 50 day SMA on above average volume .

I am cautious that if BTC rallies, then IOT could fall back into down trend channel.
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