IOTA - BTC Futures FUD is Over, To Infinity and Beyond!

The amount of novice trader panic buying at the all time high indicates a very strong resistance point at $5.5 as everyone is trapped there. A second resistance point is at $5.15 when we failed to break it on 12/6 and 12/8. A third resistance point is at $4.45 where we have successful passed and broke out on 12/7, but failed to breakout on 12/10. As of now we're looking to retest $4.45 again, if we managed to breakout, it is a very bullish signal. We're very likely to go all the way back to $5.15 before bouncing back down.

We have 2 support. A weaker support at $3.75 as seen on 12/8 and 12/10. A super major support at $3.5 as seen on 12/8 and 12/9. We have managed to stay above $3.5 despite all the BTC FUD indicates that $3.5 is a very solid support. If $3.5 support breaks, we're looking to sell everything immediately.

Trade Setup:
- Stop Loss at somewhere around $3.5
- Sell 30% IOTA at $5.15 to secure profit in case we can't break through $5.15 resistance.
- If we manage to break out of $5.5, there's nothing that can stop us. Sell 70% at $5.9

Comment:

We have broke through the $4.45 resistance. We're looking to go all the way up to $5.15 before the second resistance point.

Comment:

We failed to break through $4.45 resistance. We're very likely to go down. We'll wait for the second 1h candle to confirm the signal.

Comment:

As of now, Stoch, MACD, and CCI is showing a huge buying momentum. We might be retesting $4.45 again. Hopefully we break that before tomorrow morning.

Comment:

Good morning, It seems that no much had happened over night, but the gap between the bottom and $4.45 resistance is getting smaller and smaller. It seems that IOTA id hsving a rough time breaking through this resistance. We failed twice yesterday, let's see what will happen today.

Comment:

$4.45 resistance is quite strong, we've tried a total of 3 times as of now. I'm predicting a breakout by midnight. Boillinger Band is getting narrower indicates either a significant advance or decline in the future.

Comment:

So far so good. Let's play a little game predicting when the breakout occurs.

MACD, CCI, and Stoch indicating a good and strong buying momentum from the market.

New Trade Setup:
Stop Loss: $4
Take Profit #1: $4.9 (20%)
Take Profit #2: $5.1 (20%)
Take Profit #3: $5.9 (60%)

Comment:

Bounced above the trend line as expected. If we have enough volume, expect a breakout before the end of tomorrow tonight.

Please remember, a Bollinger Band Squeeze indicates both a huge INCREASE or DECREASE. If we do fall below the trend line, we will no longer be going long but instead shorting it. If that happens, I'll make a new post with a new setup.

Good luck to all and good night.

Comment:

Sooner than I've expected, we broke through $4.45 resistance. Waiting for second 30 min candle for confirmation.

Comment:

Breakout confirmed! We have a significant amount of increase in volume. Strong buying momentum on CCI, MACD, and Stoch.

Comment:

First Target of $4.9 reached. Trust me, don't be greedy. Secure that profit first.

Comment:

It is very unlikely that we fall below $4.45 again after the breakout, so feel free to increase your position from the $4.9 trade we've profited from. I'm looking for $5.2 and above by morning. If the trend breaks, we will short it.

Comment:

We are running low on volume due to LTC fomo. It'll be interesting to see what would happen when LTC pump is over. Overall, we are still in a safe spot.

New Stop Loss: $4.39

If we break below $4.45 it's game over. we will stop going long and proceed to short it when that happens.

Comment:

We bounced off of $4.5 support. Most likely going back up, waiting for second 1h candle for confirmation. We should be able to reach our second target by tonight.

Trade closed manually:

Stop loss of $4.39 reached. We will wait to reach re enter once we see momentum.

Trade active:

re enter. 2nd 1h candle shows a bounce back up from our support at $4.45

Very sorry for the late update, I had no wifi