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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