IOTXUSDT⚠️✅⚠️ Breakout Incoming, pay attention!
💬 IoTeX (IOTX) looks like it is gearing up to break resistance. Let's analyze this bad boy of blockchain and Chainlink partnerships to see if the bulls can break on through or if the bears will end the glory here.
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Daily Multi-Timeframe:
There is a major price pivot point that is currently acting as resistance. It is the potential to break this and for the USDT pair to make new highs that has us excited. Let's go bulls!
BTC 4h Multi-Timeframe:
You can see that the current daily USDT range is also significant on the 4h for the BTC pair. While there is a rather large range here to consider, this chart illustrates what we are looking for. We want to see an ABC move above this resistance, with a retest of it, before moving higher.
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Summary:
This play is all about breaking resistance with the current momentum, so a retest of lower ranges is pretty far outside the scope of what we are looking for. We want to see a run now, do you think we'll get it?
Resources:[/I]
cryptobriefing.com/chainlink-iotex-partnership-oracle/
✨Drop a comment asking for an update, we do NEW setups every day!✨
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Help the community grow by giving us a follow 🐣
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- Support:
- S1: The first support level is the S1 orderblock. Anything more than a quick wick down to here breaks our current bullish structure of higher lows. So even though there is support here, it should be viewed cautiously.
- S2: The S2 S/R flip is a logical place to find support. The momentum of the current move would be lost here, but that doesn't mean this support can't or won't hold.
- S3: If needed there is also the S3 orderblock range. Anything below this changes our overall bullish outlook on IOTX.
Resistance: - R1: The R1 orderblock at the previous swing high is our first point of resistance. We'll be looking for this to act as support once broken.
- R2: The R2 high from the initial move up back in May is the last point of resistance. What the bulls will want to see is a move up to R2, support found at R1, and then a push higher through the Multi-timeframe resistance noted below.
Daily Multi-Timeframe:
There is a major price pivot point that is currently acting as resistance. It is the potential to break this and for the USDT pair to make new highs that has us excited. Let's go bulls!
BTC 4h Multi-Timeframe:
You can see that the current daily USDT range is also significant on the 4h for the BTC pair. While there is a rather large range here to consider, this chart illustrates what we are looking for. We want to see an ABC move above this resistance, with a retest of it, before moving higher.
-----
Summary:
This play is all about breaking resistance with the current momentum, so a retest of lower ranges is pretty far outside the scope of what we are looking for. We want to see a run now, do you think we'll get it?
Resources:[/I]
cryptobriefing.com/chainlink-iotex-partnership-oracle/
✨Drop a comment asking for an update, we do NEW setups every day!✨
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