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IOTA

IOTA ready for an impulse?I kind of feel like something is brewing here on IOTA from a market structure point of view. Its a bit of a long term call but its building sweet structure on the higher time frames for 2 really good impulse moves. 1. A break above the current resistance will see us free of a lot of market structure an possibly see a big push to 2 significant supply blocks. 2. Another rejection at this resistance level will see a possible break in trend as short sellers come in to push momentum down back to the previous pivot low. Im going to play this one on 2 accounts for a hedge, I'll be opening a long on trend next time it comes close and then keeping an eye on it pushing through resistance, if it breaks trend ill pull the pin due to invalidation. When it gets to resistance again ill be opening a short on a second account and waiting for the break in trend, if it breaks above resistance ill close the trade due to invalidation. will update when we get some action.
by DeNomics
IOTA/BTC - 15/10/2020 - The Great AccumulationAlthough IOTA does not have miners or stakers to raise the price, the project has excellent developers and community. In addition, the project counts a lot of enthusiasm in the academic, industrial and technological environment. The Coordicide event should push prices to higher levels in 2021. Until then it is time to accumulate. The weekly chart suggests that below 2600 satoshis is a big accumulation point and the kumo cloud has been narrowing, this means the downtrend could be over soon. A possible Elliott wave 1 and 2 are in the chart.
Long
by outbreeak