IOTA looks like it's forming a triple bottom reversal pattern! Even better yet, as this price action is playing on top of a tested demand zone between $0.90 and $0.94, BTC is making GAINS.
My conclusion/leanings: I think this is a HUGE buy opportunity. Alts run on their own cycle, but if BTC is doing well historically everyone's happy. If BTC starts to lose some steam, greedy buyers are going to be looking at underpriced alt coins for the next bull opportunity — aka IOTA.
If I wasn't fully vested right now I'd be filling my bags here at $0.99, selling some at $1.25 to lock in profit, some some more at $1.70 for a nice gain, and let the profits / last third run up to $2.00 before taking my final profits and being content with doubling my $$.
lol
you're having fun with this one bro...thanks for posting
mrmeeseeks
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@kikadstt, i'll be having even more fun if it pans out. Cheers
MichaelShutterbug
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I'm not convinced yet. I wait for the 50 MA how it plays out. The 50 days MA was three times since last year a confirmation of bull trend. I'm not convinced also because I see these two tops since early July as a descending triangle continuation pattern. These two tops look also similar to the two tops formed in mid feb until early march. Daily StochRSI shoot up too quickly in my opinion. The volume is lower than compared to the two run ups since early July to ~1.25 and ~1.18 USD. We dipped three times in the range of 0.88-0.92. I would be glad if we finally break thourgh it and find bottom in mid/end August in the 0.48-0.54 range. There is a trendline from February, March and April low pointing in this direction as a support. Together with the upper trendline from the two tops in December and May forming a huge falling Wedge or bear channel. There is no real power in this whole upmove in the market. Maybe only a technical correction upwards. If we go to 1.1-1.12 I would set the stop loss above the price you bought. Because in this area the 50 day MA will be crossed and there is this descending triangle trendline from the past two tops in July. If we cross the 50 day MA we could see a rejection there and later completition of the bearish continuation pattern and break below 0.88. Anyway good luck
you're having fun with this one bro...thanks for posting