IOT's upward flag!
Updated
All the indicators (net volume and MACD) are converging with the decrease in volume. The pattern is also to meet its end within a few days, which has last for more than one month. However, we don't know the direction of IOT's next move. Anyway, I think IOT will roar because of the macro market bullsh trend. Hold your position, be patient, smart money should consider opening long position at retracing, I believe the breakthrough might happen in any time and catch all of us off guard.
Note
The price is still oscillating within the flag, I review it as a perfect consolidation process.Note
Within the flag, we have 4 hits on the bottom and 3 hits on the top, this is normal but only all the top hits happened in 2018 and they are happening more frequently than ever (3 top's and 2 bottom's in 2018). This means the market is ready to destroy the pattern with a higher probability of future bullish move.Note
It appears to be a breakthrough, yet to be confirmed by volume, or at least another hit at the top of the flag, it is looking good till now.Note
Seemingly we finally get something interesting going now, slowly but steadily. That is the best pay for our patience.
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