IOTA / BitcoinLong
IOTA - Time to go?
IOTA has been trading sideways for some time since it recovered from the retrace from the run to ATH.
The prevailing trend should triumph and push the price out of the pennant. In this event, we have an immediate test of the 33k recent resistance level. Provided we break above this point, we will see it move onwards to test the ATH resistance. I don't think we break it on the first attempt, however we should establish a new support level at 33k - we may see some further sideways trading until the prevailing bullish trend pushes us up and over at which point we will see a bullish push to a new ATH.
Bullish push confirmed by breakout of 30k sats
Entry: 25k - 28k
Stop Loss: 20k (tighten to ~23k if you enter at the higher end of the entry range)
Target: 78k
RR = 9.55
Good Luck
The prevailing trend should triumph and push the price out of the pennant. In this event, we have an immediate test of the 33k recent resistance level. Provided we break above this point, we will see it move onwards to test the ATH resistance. I don't think we break it on the first attempt, however we should establish a new support level at 33k - we may see some further sideways trading until the prevailing bullish trend pushes us up and over at which point we will see a bullish push to a new ATH.
Bullish push confirmed by breakout of 30k sats
Entry: 25k - 28k
Stop Loss: 20k (tighten to ~23k if you enter at the higher end of the entry range)
Target: 78k
RR = 9.55
Good Luck
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.