Since my last post IOTX has dropped 17% as I expected, I've been so accurate these last days. xD
What's next, so TA wise this was just a 1h oversold bounce rsi was 18 and there can be more downside to this. What's interesting is that we have a 4h bullish engulfing bar (10 min till close) what's making me think this is the bottom at this moment IF we hold 596 if not 550 is the level I'm looking to hold as support AND IF that doesn't 420 is the next level.
what can we do in this situation? IMO we can start to scale in but with very small position size just to not get rekt if this drop further down and add more if it drops. The perfect play would have been if you had caught that faling knife around 600 range but that would be dangerous but very reward full.
ps: if you want me to review a coin for you DM me, I'll see what I can do
Don't forget to like, subscribe and share It doesn't cost you anything :)
good luck and thank you for tuning in !!
DISCLAIMER: The Legal stuff - I'm not financial adviser.