24h ago someone dumped roughly 1.5 trillion IOTA in a single sell order. Allegedly someone found some old treasure from ICO times: twitter.com Hint: If this happens to you, sell it slowly to let buyers recover and keep the price up. This impulse still sent IOTA down and it seems to continue that trend in well shaped flag patterns.
IOTA channel should bounce back up to .28 now. However BTC is struggling and will overpower the trend if it falls. Trade safely my friends.
After a long rally up, fueled by BTC and ETH, a pullback is due. The uptrend line is broken. IOT could form a Head-n-Shoulders pattern here, which would a be a nice short opportunity. However, sentiment is quite bullish at the moment, I think, so shorts are especially dangerous.
Description on chart.
My thoughts about IOTA. When it breaks the 0.30$ barrier we are off to 0.40 $ and 0.50 $
$Iota is holding very well. It broke a downtrend yesterday and is now consolidating. One of the few coins which is not going down together with $BTC and $ETH.
I know nothing, just like this line... thanks And please, look at somebody's old ideas before you follow. Lots of sun seekers and copycats that agree on everything.
I think IOTA is going to remain weak at least for 1 year. The next bull "crypto cycle " will drive the price.