Bitfinex:IOTUSD Update - Head&Shoulders Neckline broken

Uptrend broken, head and shoulders neckline brocken downwards, apparent downtrend channel , possible resistance between 4.05-4.20. Watch out for breakout up/down. Time to play out ~12h.

Disclaimer: Would love your analysis as I'm merely starting out.
Comment: Next 4h should be interesting. Extended neckline broken once, resistance at 4.2USD touched. Entry at 4.57, if breached.
Comment: Area of resistance at upper line downtrend channel and at extended neckline. Possible breakout area around 4.57 USD.
Long trade: Enter on breakout, next resistance expected around 4.90-5.00.


Wrong analysis. Please do not direct people when you are not pretty sure...
s4lt29 MuratcanSefaKatirci
@MuratcanSefaKatirci, care to elaborate? I am explicitly asking for criticism, so any pointers are welcome!
@s4lt29, ignore irrelevant and premature comments like from MSK from 6h ago... you were spot on! well done!
+1 Reply
s4lt29 uros_mlakar
@uros_mlakar, thanks mate!
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