Upon the collapse of BTCUSD from $8000 all the way down to $3.5k, IOTABTC almost broke its critical daily support at 0.00002100 BTC but managed to bounce back forming a V-shape capitulation bounce on the 1h timeframe. This strong V-shape bounce on the 1h timeframe is bullish in the way that it managed to close the 1D candle above the daily support showing us that...
TDST support marked on the daily time frame at $0.1515
Abnormal bull volume of $37.447M absorbing the sells on December 19th
Risk/Reward ratio favoring the bulls as BITFINEX:IOTUSD is hitting near its ATL target of $0.1427
After the pump caused by the news of IOTA's partnership with Jaguar Land Rover, it had since then fully retraced and fallen back down. This is highly bearish as it shows a lack of follow through and continuation from the bulls. IOTA/BTC pairing is currently showing a very decent risk to reward for bears as a breach of the recent low, which is also the all time...
IOTA is looking slightly bullish on the daily timeframe as it is about to break out of the triangle. Not to mention, bulls did an amazing job defending the daily MACD cross right at the zero mark.
On the weekly timeframe, we can see the RSI making a potential inverse head and shoulders pattern. Similar to every inverse head and shoulders pattern, we must wait...
