There's not much to talk about, this is the most bullish Ichimoku I've ever seen in my life. I'm leaning towards IOTA because I like the project a lot, but from a TA point of view I think it's just buy and hold until it reaches higher resistances (about 8000 sats, 15000 sats and 30000 sats depending how the market goes).
Gold is a slow player but I think it will go up for the next months. With all the quantative easing the stock market and cryptocurrency were pumped up. I think now is time for gold to shine. Cup & handle pattern can be seen, RSI support and my subjective Elliott Waves.
Support at previous support range and 0.618 fib. In my view it means that Bitcoin will fall and altcoins will fall faster than Bitcoin. However, it can also mean that Bitcoin will rise with money flowing from altcoins to it. As I am bear in relation to the S&P 500 I bet on the first option (due to the correlation of the assets).
Just some Elliott Waves that make sense to me (truncated wave 5), not a deep analysis. 1.618 of light blue waves and 0.618 of pink waves are close. I don't see a good risk/reward going long right now. RSI showing some divergence. Waiting for the FED meeting today.
Although moving averages aren't looking good, EWZ is in a big support zone (white area). In this Elliott waves analysis EWZ hit the 0.382 (30.78) fibonacci retraction for wave 4 and if this is the end of it, wave 5 could hit 0.618 (42.01) or 1 (49.15) of fib extentions. The ex-president Lula news made the market drop today, but Lula isn't worse than current...
IOTA had a amazing bull run last days and I took some profit according to my previous analysis and rebalancing strategy. It reached the top of my Elliott based channel too fast and risk/reward of long it now do not look good. I'm neutral, slightly bearish. I'm watching more the BTC chart currently.
Although IOTA does not have miners or stakers to raise the price, the project has excellent developers and community. In addition, the project counts a lot of enthusiasm in the academic, industrial and technological environment. The Coordicide event should push prices to higher levels in 2021. Until then it is time to accumulate. The weekly chart suggests that...