IOTA / BitcoinLong
IOTA Triangle - Odds In Favor Of A Bullish Breakout
Updated
Three things:
1. Price is consolidating into a triangle
2. Bollinger band are at its narrowest since Dec 1
3. Candles are hovering around the .5 Fib line.. the stock is begging for a direction
All indicators lead to the conclusion that we will see some major price action, soon.
Which way? Up.
Why? The inverse head and shoulders, a very bullish pattern.
Short-Term Price Target: 30 (sized by the head and shoulders pattern)
Hat tip to Rusty for throwing this chart my way.
1. Price is consolidating into a triangle
2. Bollinger band are at its narrowest since Dec 1
3. Candles are hovering around the .5 Fib line.. the stock is begging for a direction
All indicators lead to the conclusion that we will see some major price action, soon.
Which way? Up.
Why? The inverse head and shoulders, a very bullish pattern.
Short-Term Price Target: 30 (sized by the head and shoulders pattern)
Hat tip to Rusty for throwing this chart my way.
Note
IOTA - HOLD - Two ScenariosPrices have reached my short-term price target. Market and coin sentiment seems to generally be bullish, so I recommend holding onto the coin if you own it.
Scenario 1: Prices consolidate around the 0.382 Fib (~300k satoshis) before blasting higher to the 0.236 Fib (~350k satoshis)
Scenario 2: IOTA prices go straight to the 0.236 Fib.
In either case, I would high recommend selling some limit sales around 340k-345k satoshis to take some money off the table.
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