Iota and BTC confusion
The market is giving us mixed signals. For example. IOTA has formed a head and shoulders pattern which for many is reason enough to sell off IOTA. Although the expanding diagonal pattern within, indicates that sellers are not so sure
and buyers are not yet ready. A break of resistance may give us a very nice short term rally.
While looking at BTC. We see a bullish pattern that should give us some confidence to buy btc in the short term, and the likelihood that IOTA will reverse while giving us a 'fake' break of support to rally along with BTC.
BTC on a larger scale again here is giving us a larger H&S pattern. Which of course is bearish.
What a shambles! A short term bull run likely on breakout for both. Positive news will be everywhere. Waiting is key.
and buyers are not yet ready. A break of resistance may give us a very nice short term rally.
While looking at BTC. We see a bullish pattern that should give us some confidence to buy btc in the short term, and the likelihood that IOTA will reverse while giving us a 'fake' break of support to rally along with BTC.
BTC on a larger scale again here is giving us a larger H&S pattern. Which of course is bearish.
What a shambles! A short term bull run likely on breakout for both. Positive news will be everywhere. Waiting is key.
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.