MIOTA (IOTABTC) just broke a falling wedge on increasing volume.
It is looking beautiful with strong bullish indicators and plenty of room available for growth.
You can aim easily at 50-150% of profits in a matter of weeks... If the market continues going green.
Daily chart with targets
All the details are shared on the...
Two times rejection from ~2500 in btc value.
MIOTA is on his 3th try for breaking this resistance. (0.382 fibo)
if succeeds, so 26% percent profit is in your hands.
Don't forget to use stoploss!!!
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.
IOTA interest me for a few reasons
It made a 3 wave move down and in the final leg of the 3 we see a clean 5 wave structure
If this is correct IOTA can see significant gains in the coming months.
I still see downside in the med term but this should form a basing pattern soon to back this idea
To keep up with the #crypto volatility give me a follow on...
Ball is in BTC's hands. IOTA starting to show a small sign of a trend direction north. It does need BTC to play correctly and not blast out of this area.
IF BTC dominance does come down, coins like IOTA will get some love.
As almost 90% of alts, IOTA looks pretty weak at the moment, main range broken down (blue line), with 2 clear bearish channels. Main objetive based in fibonacci projection is at 1160 sats, not gonna touch it until we reach there or we see some bullish price action
As Bitcoin got another punch yesterday, Alts started to rally against Bitcoin.
In detail this is what I see on 4H:
- The market got caught in a descending triangle in July which eventually led the price to follow a descending channel.
- At this time we also got a MA50/MA100 cross down shortly after. Notable is also that we got a MA50/MA100 and a MA100/MA200...
With the majority of the alt-coins being smashed over the last few weeks. This gives a brief rest to those swimming in losses.
If BTC dominance does come down alts will turn back up again, how long for? Unsure but have a tight stop loss on this one. This could retest the EMA 34 on the daily and turn around again.
IOTA WILL GO TO 0.00001919 BTC AND THEN HAVE 2 CASE:
1-IF IOTA HOLD 0.00001919 BTC THEN WILL GO TO 0.00004484 BTC
2-IF IOTA CANT HOLD AND BREAK 0.00001919 BTC THEN MAY GO TO 0.00000478 BTC .
PAY ATTENTION THAT IN PREVIOUS IOTA DUMP TO 0.00000017 BTC