A big bullish candle is forming similar to some of the candles formed at the end of October. MACD pattern on the daily chart looks eerily similar to what happened in Sept-Oct2017, it is just magnified 5X . I seriously don't believe that IOTA is worth only 1/MIOTA but the market has been so punishing since December. Look for patterns similar to the ones in October end, if the DMA line is crossed then it is surely the bottom. Else risk to 0.35 remains
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Going good so far, but a couple of strong bullish candles with high volumes will confirm . currently volumes are not so strong
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1.37 is 50 Day EMA acting as resistance, 100 day EMA stands at 1.67 which will be another strong resistance
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Volume of upmove not strong enough, it was only 1/3 of what we had in October end. If we don't get stronger candles this rally may fizzle out completely
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Iota is back at March end levels. The previous rally did fizzle out as I suspected in mid April. Although the news has been positive around iota for the last couple of months, it is merely moving with the rest of the crypto market ( damn algorithmic trading ) Downside risk remains high. Watch for breakdown in bitcoin price below 5800 . A strong volume break towards up would be needed to get out of this falling market