IOTA / BitcoinLong
IOTA looking bullish!
4H Analysis | IOTA
Ichimoku cloud: IOTA's 4h chart shows crossing Tenkan/Kijun lines, where the Tenkan line moves above the Kijun line (= bullish Tenkan/Kijun cross). A bullish Tenkan/Kijun cross in the Kumo (cloud) implicates a bullish move. It would have been a stronger bullish signal if the cross occured above the kumo.
RSI: One of the reasons why I think this is a strong bullish scenario, is that the 4h RSI is sub 40, so there is al lot of room for buyers. Usually up to 70-ish RSI.
Bollinger Bands: A red candle has closed outside of the lower band. This indicates either a downward break or reversal. considering abovementioned analysis, I interpret this as an additional bullish signal.
1H Analysis | IOTA
The 1h chart confirms the 4h analysis in a sense. There is no bullish cross on the 1h, but it looks like IOTA/BTC is heading towards 5200 (about 6:00 PM GMT) Sub 40 RSI, the candles just bounced off the lower band and are moving upward, we maysee the candles testing the lower band again after bouncing off the middle (5050-ish).
This is my first idea published ever! Please let me know what you think!
Cheers!
- 1337crypt0trad3r
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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.