Priceline of IOTA USD cryptocurrency has formed a bullish BAT and entered in potential reversal zone even giving a spike beyond the PRZ area and touching the lower band of bollinger bands 1st time since after April 2019.
Stochastic entered in oversold 1st time since after Feb 2019.
I am expecting the next candle stick will be closed sideways or within the PRZ area...
The IOTUSD was moving within a descending triangle and left the triangle without breakout or breakdown.
Since july 2017 the price action has found a strong support of $0.2051 and this support is not broken sofar.
The bollinger bands is extreme squeeze which is an indication of a massive move up or down soon.
MACD gave weak bull signals since sep 2018 and now it...
We're either on the brink of an Alt Season with BTC.D capping out at the 200MA weekly, or we're about to start creating a trading range. (or just another bearish retest before dropping lower - trade what is, not what you want it to be.)
Trading Range Entries/Exits:
Lowest Red Range = TP1
Highest Red Range = TP2
Lowest Green Range = Accumulate in/above.
Major bounce from the mid-term support trend line lead the price action to the descending triangle pattern. Technical analysis is neutral at the longer frames. Such situation is favorable due to BTC fluctuations.
The positions is good for 1-7 days duration. At the short-term timeframe bullish flag is formed with a great breakout potential. The price is going to...
IOTABTC formed inverted head and shoulder and reached the target of 43% over long period.
Currently, it is testing support at lower Fib level and soon it may break and reach multiple TP's as listed on chart.
Major resistance is 50% Fib level which would take another few weeks to reach over there, so holding coin is good for a couple of weeks.
IOTA might be ready to make a run for it here with volume showing up past few days
We would need for it to closed above resistance and retest it as support before entering
Only then can we target local highs, which is a strong possibility if BTC starts to pullback and money flows into alts
After Jaguar partnership, we experienced a typical sell-off (exasperated also by $BTC's violent upwards movement).
It was rejected at the yearly low's, currently near ATL. I'd like to see it reclaim white box before considering a long.
I haven't posted any entries for a while so i figured I would give it another shot.
IOTA is setting up for a simple buy set up with a projected gains of 75%.
Will update as trade progresses