This was a TA that I've done a few days back. it seems that IOTA is following and bounced off the bottom trend line as expected, hence the massive growth in price at the moment. If the amount of volume stays consistent and this trend continues, we're very likely to really make it to "$10 before Christmas" as some people had once said. If we break through the bottom trend line, there's no way IOTA can recover. We can only expect IOTA to go into bearish mode when that happens.
As of now, Binance had already crossed the $4 barrier. Stoch and MACD looking surprisingly well with a huge BUY signal.
As of now, Binance had already crossed the $4 barrier. Stoch and MACD looking surprisingly well with a huge BUY signal.
Note
If it fails to break through $4.40 on the upper trend line, IOTA is very likely to bounce back down. When that happens, I recommend that you short it to increase your position.Note
Good news! IOTA dipped to $3.7 level and immediately bounced off and shot back up. If it's able to make it to $4 again, it's a VERY VERY bullish signal.
Note
Good thing this pennant can't be broken. IOTA has to drop below $3.45 to break out of this bullish pennant and go into bearish mode. Stay calm and accumulate.Note
Bounced back down from the upper trend line. We will wait for the next 1h candle for confirmation, if it's a downtrend, we'll proceed to short it.
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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.