Imagineth

Thought there would be a break down in Iota...

Long
BITFINEX:IOTUSD   IOTA / U.S. Dollar
So, I see that Iota broke the support level that I THOUGHT was at about 240000 sat. Or maybe I drew it in the wrong place. Or maybe both or neither. I see Iota wants to be strong. I guess we'll just have to wait for the volume . It really didn't react much to the news yesterday where they said, "Hey, you all misunderstood! We aren't partnering with Microsoft . We're just a client." Iota will break soon. I don't think it will break down. It's very strong and I think we've just about exhausted the bears. I feel the longer we are forced to wait, the quicker the momentum will gather when it's run time. I just hope we're moving up. I'm long.

Currently in downward leg of very short term upward trend toward the resistance at around 270000.

Would someone please tell why I KNOW I'm completely wrong? I should place side bets that all my trades will end up stopping out. I set stops at 30%. I entered this position at $4.60. Can't wait to see how I lose this time.

This is not financial advice. I started trading with $2,000 and now have just over $500. If you take this as advice, expect similar results or worse.

Comments

The market was getting pumped and dumped by someone, it in turn set's off a load of triggers up and on the way down. It won't be going anywhere without any volume. Hopefully soon we will get back to normal market forces.
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Imagineth Raggyman
@Raggyman, Thanks for the valuable feedback. I'll get this right sooner or later.
Reply
Raggyman Imagineth
@Imagineth, Time will tell. For now I will keep an eye on it, however I suspect that until a news even happens, and some volume returns IOTA won't be going anywhere in a hurry.
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