Accumulation zone in Iota/BTC seeing the fundamentals and the evolution of the iota ecosystem we are in a very favorable risk/benefit zone
Also it seems that a diamond pattern is forming on the weekly chart
The current level was rejected in February and August 2020.
It broke through in April 2021 and is now retesting this level as support.
My guess is that it will bounce now or oscillate around this level with a dampening effect before taking off in June.
If it breaks below the 20 day simple moving average it is looking bearish.
The project has strong...
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Looks like IOTA is gaining strength again as it clearly broke the descending channel to the upside on BITFINEX:IOTBTC . No wonder, if you take into account, that IOTA had several positive news in the last few weeks, and traded since some months at very low level, depsite being a very interesting project.
Overview over the past few weeks:
- IOTA introduced the...
IOTBTC weekly chart looks interesting.
Bullish RSI divergence on weekly followed by a little bit smaller hidden bearish RSI divergence. So I would speculate that we will see a retracement to have it cleared, followed by a rally supported by that bullish RSI div.
42k sats seems like important resistance area I would be aiming there as target.
Pattern: Channel Up on 1D.
Signal: (A) Bullish on the Higher Low trend-line of the Channel Up or if the Resistance breaks or if the RSI breaks above its Lower High trend-line. (B) Bearish as long as the Resistance holds.
Target: 0.000031 (just below the ~45% extension).
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