IOTA is at the key resistance of 0.4$, and where to close the 1D candle will be crucial to the next trend of IOTA.
If IOTA conquers this 0.4$ zone, it will rise to the 0.5$ zone and a high possibility will continue to the 0.55$ or even 1$ zone.
However, if IOTA fails at the 0.4$ zone, IOTA will easily plummet to the 0.3$ or even 0.2$ zone.
IOTAUSDT is testing the monthly structure as new support, on the 0.5 Fibonacci Level.
IF the price confirms the new support, According to Plancton's strategy (check our Academy), we can set a nice order
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily...
IOTA - Intraday - We look to Buy at 0.2471 (stop at 0.2428)
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
We look to buy dips.
Dip buying offers good risk/reward.
Pivot support is at 0.2450.
We look for a temporary move lower.
Our profit targets will be 0.2595 and 0.2669
Resistance: 0.2570 / 0.2600 /...
IOTA formed really textbook 5-wave textbook move to the upside, then formed nice 3-wave WXY correction, so another big 5-wave move cycle to the upside should begin, we should go at least somewhere below 0,3 USD. There are currently two possible stop losses, the safest one is below invalidation level, however RRR isn´t that great, or you can put stop loss below...
Measured move depends on when/if it falls out of the bottom of the wedge, but a safe place to take profit is around the green horizontal support line.
If it breaks out above the red trendline, this is invalidated and the trade is not there. It would then be very bullish and set up a long.