IOTA DirectionIota seems to be stabilizing and we can see a few different directions at this point. If you notice the RSI has leveled out and is not overbought nor oversold but rather stable in the middle. It's safe to say that we will continue steady in the direction of (2). Although there may be a change in direction at the end of the triangle (1) and we could start to see a reversal or we could fall to the last support level of (3). I don't think we will fall in (4). It seems though in USD the steady price is around 3.70 to 4.00. Pay attention today as we are likely to see some noticeable IOTA chart directions.
Iotalongs
IOTA - BTC Futures FUD is Over, To Infinity and Beyond!The amount of novice trader panic buying at the all time high indicates a very strong resistance point at $5.5 as everyone is trapped there. A second resistance point is at $5.15 when we failed to break it on 12/6 and 12/8. A third resistance point is at $4.45 where we have successful passed and broke out on 12/7, but failed to breakout on 12/10. As of now we're looking to retest $4.45 again, if we managed to breakout, it is a very bullish signal. We're very likely to go all the way back to $5.15 before bouncing back down.
We have 2 support. A weaker support at $3.75 as seen on 12/8 and 12/10. A super major support at $3.5 as seen on 12/8 and 12/9. We have managed to stay above $3.5 despite all the BTC FUD indicates that $3.5 is a very solid support. If $3.5 support breaks, we're looking to sell everything immediately.
Trade Setup:
- Stop Loss at somewhere around $3.5
- Sell 30% IOTA at $5.15 to secure profit in case we can't break through $5.15 resistance.
- If we manage to break out of $5.5, there's nothing that can stop us. Sell 70% at $5.9
IOTA Bull Trend Will ContinueIOTA gave a green 2 on the daily chart according to Tom Demark count. This is a clear buy signal. I expect the bull trend to continue for at least 7 more days.
We are at green 5 on the weekly chart which means we can have 4 more weeks of uptrend.
Support level-1: 1.96 (Fib 0.5)
Support level-2: 1.45
According to Boston Consulting Group market analysis, Internet Of Things Market will reach $267B By 2020. IOTA is the e-currency of IoT and it is market value will be much more than the whole IoT market as it is a limited commodity.
I recommend to buy and hold IOTA for long term.
If you are a trader, here is my short term idea:
Long at: 2.39
Take profit: >4.0
Stop loss: 1.40
IOTA/USD Alalytics by Elite Team Brokers ( Skype: saharovanil )There are a lot of good news on the coin, therefore the trend in long should justify itself even with the purchase and hold mode.
The best price to buy back is 1.90$. But actually as we noticed the correction on the 2.3 mark did not happen serious, for this we expect a fall to about 1.9 $
Those who hold the currency in LONG can already buy at the rate of 2.15 and keep it to $ 2.8 or $ 3
The forecast period is 2-14 days.