Hello Traders,
In this analysis, I am looking at IOTAUSD. This crypto is also correcting the move lower.
It has already lost more than -40% of its value. Like always, cryptos are very volatile as you can see and having the right risk management is key to survive in this market.
Anyway, with the new low and trendline break, I am expecting more downside to follow to the areas mentioned in the chart above.
At some time when the crypto reached that area, I am looking for a bigger correction to the upside to at least to the trendline (drawn in the chart) Invalidation level for this view will be the low at 0.9058.
Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view.
In this analysis, I am looking at IOTAUSD. This crypto is also correcting the move lower.
It has already lost more than -40% of its value. Like always, cryptos are very volatile as you can see and having the right risk management is key to survive in this market.
Anyway, with the new low and trendline break, I am expecting more downside to follow to the areas mentioned in the chart above.
At some time when the crypto reached that area, I am looking for a bigger correction to the upside to at least to the trendline (drawn in the chart) Invalidation level for this view will be the low at 0.9058.
Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view.