IOTA falls through cloud
Updated
Good morning,
IOTA broke down the trend line late last night and has now passed down through the cloud; I expect IOTA to continue down to test the next line of support. I see three possible lines: the first being $0.51, then $0.46, and then finally at $0.37. I think one of the first two lines are more likely. We should only expect it to retest the low of $0.37 if we see a major slip across the whole crypto market.
IOTA broke down the trend line late last night and has now passed down through the cloud; I expect IOTA to continue down to test the next line of support. I see three possible lines: the first being $0.51, then $0.46, and then finally at $0.37. I think one of the first two lines are more likely. We should only expect it to retest the low of $0.37 if we see a major slip across the whole crypto market.
Trade active
IOTA went down and touched first target at $0.51 before heading back up. It is currently heading through the cloud and MACD appears to be ready to crossover to the upside. If you picked some up, I think this is a good time to hold IOTA. However, pay careful attention to BTC. If BTC falls out we can expect IOTA to follow. In that scenario long-term trades can stay open but short-term trades may want to be closed, all depending on your trading strategy.
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