profghibli

IOTAUSD log trendline buy signal

BITFINEX:IOTUSD   IOTA / U.S. Dollar
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6
IOTA has entered a strong support zone , this is a trade for at least a month going forward. A midterm entry/stop/target are indicated.
Comment: Entry - $0.93-0.85 range.

Stop - $0.64

Target -$2
Comment: Wasn't as smooth regarding the bounce off the trendline, but already 70% up.
Comment: Good time to take 15-20% off the table and lower our entry point to make a risk-free trade, with a stop loss under last bottom ~$0.89
Comment: If you sold some at above $2, or have some free capital, adding to IOTUSD position at $1.67-1.55 region is a good idea. Currently doing wave 5 of C likely.
Comment: Touching the same (green) trendline once again. Wonder if it will hold this time. Probably should be a good support zone.

Comments

If we move up on log scale in a similar fashion again, where does the price project? 8-10 USD?
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profghibli Prometheus777
@Prometheus777,

if it was to shoot straight up and reach the top of the channel today - $11
if it was to make an ascent in 33 days like last 2 bull runs had - between $15 and $17

but it's unlikely that's it's simply going to repeat this same type of ascent, given current market conditions.
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profghibli Prometheus777
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