Hello, crypto maniacs!
On the 4H chart, IOTA is currently sitting on a strong support (dark blue line), which is perfectly matching with 0.23 Fib Retracement level.
Above the current price, at 0.00024572 level (red line), IOTA faced hard resistance.
Note the white box, where this exact same level was serving as resistance, there IOTA pulled back before it's rise...
IOTA had a Death Cross formation on the daily chart. Death Cross is an important bearish signal generated when the 50-day moving average crosses below the 200-day moving average.
Stoch RSI is over-bought on the daily chart which also confirms the possible bear run.
I expect the price to drop till 1.2148 (fib. 0.618)
Here is my trading idea:
Short at: 1.31
Take...
