A short IOTA Update as requested:
IOTA broke the downtrendline this morning as expected after yesterdays rising wedge (shared ideo before).
after a rally until 48.5 there was a bigger dip below the trendline as volumes decreased.
- Ichimoku Indicator shows we are still moving above the green waves and still have upward momentum
- MACD shows, a new wave up that is about to build
- RSI shows we aren´t overbought in short term
To conclude:
I think we need to closely observe wether IOTA is moving below the trendline again and would be clearly declining from there.
Depending where you got in 2% below the downtrendline could be your stop loss.
My recommendation is to stay long unless it significantly drops again. IOTA is currently very cheap and in a matter of a month you can double your invest here...
Trade less hold longer with this one unless you are a day trader.
Side note:
In Europe trading for today might come to an end, but America and parts of the rest of the world are just waking up and will get in.
IOTA is with + 4.2% number 2 in todays ranking of the days strongest winning coins after Litecoin and will drag attention and long positions,
as traders will notice the latest rally and will most likely get in as everybody is currently hopping from coin to coin with their funds to the daily winners.
IOTA broke the downtrendline this morning as expected after yesterdays rising wedge (shared ideo before).
after a rally until 48.5 there was a bigger dip below the trendline as volumes decreased.
- Ichimoku Indicator shows we are still moving above the green waves and still have upward momentum
- MACD shows, a new wave up that is about to build
- RSI shows we aren´t overbought in short term
To conclude:
I think we need to closely observe wether IOTA is moving below the trendline again and would be clearly declining from there.
Depending where you got in 2% below the downtrendline could be your stop loss.
My recommendation is to stay long unless it significantly drops again. IOTA is currently very cheap and in a matter of a month you can double your invest here...
Trade less hold longer with this one unless you are a day trader.
Side note:
In Europe trading for today might come to an end, but America and parts of the rest of the world are just waking up and will get in.
IOTA is with + 4.2% number 2 in todays ranking of the days strongest winning coins after Litecoin and will drag attention and long positions,
as traders will notice the latest rally and will most likely get in as everybody is currently hopping from coin to coin with their funds to the daily winners.
Comment:
IOTA also has twice as much volume today than recently, which is also an indicator it is dragging more interest and buyers and will be back to old glory soon