IOTA USD is in a big ascending channel with a support around 0.34.
D1 RSI target the oversell level.
Trade ex :
Sell short @ 0.40 SL 0.415
T1 0.35
T2 0.34
then in function of the support reached, if the wolumes are good :
Buy long @ 0.34 (or 0.35) SL around 0.33
T1 0.40
T2 0.43
IOTA has been following the ichi trend lines almost religiously until it had the most recent breakout where it broke through the 4hr ichi resistance before pulling back at the EMA200. It is now riding down the trend line which it broke. Given the current network freeze and no ability to deposit/withdraw from exchanges I suspect this will go down more. If not, 38...
After plumbing the depths down at 36-38c this last 4hr bar has broken above descending trend line. It has tried this before and failed so need confirmation of breakout..
In ElliottWave terms, IOTA has shown a clean impulsive 5 waves up from $0.14 to $1.10 this summer followed by a corrective 3-waves down move which is still in progress.
However, it does look like IOTUSD is nearing a bottom which should complete over the next few weeks. As with many cryptocurrencies, visualising the chart is best done in log scale and hence the...
Our first target from our original post of IOTA was hitted.
There is really good potential of making a new trade with a potential head- & shoulderpattern.
Buy options:
- You can buy at 45-46 cent, just above the big support line of the 45 cent;
- You can wait the breakout of the neckline of the potential head- & shoulders pattern at 49 cent;
- Or you can buy...
Looks like IOTA has broken down on it's first ascending trend line. This level needs to be held or we are looking at 20-30c range. Got some rebound on this second trend line but indicators are all looking bearish.
IOTUSD looks like the price is in corrective structure. Possible FLAT 3-3-5 with target in 0.37 USD . By the other way, the rebound of price is possible only above 0.50 USD .
If the price bounces from the support zone formed by 0.50000 and 0.47000 levels, we'll get a buy opportunity. RSI is going to confirm price reversal and do it near the oversold zone. MACD histogram also reverses and it will support the upward movement. DMI indicator tells us that bears are strong, and it's better to wait when I ADX line reverses and starts...
