IOTA is certaintly looking beautiful for a trade from here against BTC. Seeing it outperform BTC in 2022 with alts.
Positions should be ready and taken from these lows, added confirmation when we break the high of the flag pattern.
Following the previous analysis, IOTA reached its target and now is in the correction
Despite the weakness of Bitcoin in the rise, IOTA shows the weakness in the fall (According to the chart)
In my opinion there are 2 possible scenarios: the green option is more probable and the red scenario depends on BTC movements.
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IOTA may have escaped a multi-year downtrend back in Februari 2021; since then it looks like it has been completing an inverse head and shoulder pattern, which may result in a major uptrend. With IOTA's smart contract network and decentralised staging network releasing in 90 days, this doesn’t seem to be too far fetched. Looking for a break above ~4000 sats as...
When IOTA touches the purple trend line, it will most likely have a correction and then can try to break its downtrend
Other details are specified in the chart
IOTA is undervalued!
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According to the chart you can see the the price is in correction-downward trend and we have 2 scenario that can be happen, one of them is we are made AB of elliott correction and now we are ready to making C of the correction ABC or another theory is we finish the ABC correction and we made wave 1 and we are in coorection 2 of the first wave ,...
Following my previous analysis, IOTA is ready for a historic breakout and it looks like it will not be going down!
A 4h candle above that red trend will be a good sign for IOTA and although bitcoin seems a bit poor, I will personally buy some more IOTA.
BTW as you know, The IOTA Foundation recently announced that they are looking to launch smart contract...
💎 IOTABTC after breaking above the descending triangle the price has retested and successfully got rejected from the support line. After breaking above the wedge pattern we need to wait for the pullback and when the bullish setup formed again we can enter a trade.
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Currently we have a volume breakout for MIOTA (IOTABTC) and prices moving above EMA50.
We have the potential here for a strong bullish wave to develop.
For me, this is an easy call.
This is not financial advice.
Additional details on the chart.
In our previous analysis we stated that the corrective waves completed on the weekly. We can see now that the bottom is well established at the 2k sat level. The price is breaking out of a 2 months resistance with great volume coming in. RSI indicates hidden bullish divergence and the MACD turned green on the daily. Together with the fundamental progress, this...