winnj1

Descending Right Triangle on IOTA

BITFINEX:IOTUSD   IOTA / U.S. Dollar
First chart here, please give any and all feedback/criticism!

IOTA is forming a right triangle descending wedge . Minus the wicks, this forms an even horizontal support line at .82USD. When hinged with a 90-degree angle, the descending wedge forms.

Rule of chart shows this as a continuation and would elude to a downward trend. Given IOTA's rapid growth, I am skeptical and am partial towards expecting a faux shake-out to occur just below the .82 support line before an upward correction. If the trend continues beyond the .73 horizontal expect some more blood to come.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out