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IOTA Stochastic Turns Bullish. Is it a Bull Run or Bull Trap?IOTA’s (MIOTA) weekly stochastic flipped bullish for the first time since August 2021. The bullish stochastic crossover and the above-20 reading may be positive for the cryptocurrency, but there is a hidden alerting pattern that may hint at a bull trap. IOTA Stochastic Indicator A stochastic crossover signal emerged on the IOTA weekly chart. However, the bullish momentum is not confirming the bullish crossover signal. The cryptocurrency price has witnessed range-bound activity in the last 5 months. Because the IOTA price is trapped in a consolidation phase, there is a higher probability that the stochastic crossover signal is a bull trap. 2018 Bear Market Comparison If we compare the current bearish market with the 2018 bear market, we can see some striking similarities. The current bear market started after the previous bull run peaked in April 2021. Similarly to the 2018 bear market, we had a bear market rally that peaked precisely 20 weeks after the first peak. After the market peaked in April 2018 and August 2021, the market slowly drifted lower, breaking to new lows before entering into a long-term consolidation mode. If we’re going to experience the same type of pattern, then we can expect the current consolidation to last 111 weeks. This potentially means that we will consolidate until the next Bitcoin halving event scheduled on May 2024.
BINANCE:IOTAUSD
by cryptohopper
#IOTA is Solid, Adds 20% as Prices Recover from $0.24Past Performance of IOTA IOTA prices are relatively solid at press time. Although there were hints of weaknesses on September 25, the recovery earlier today has been nothing short of stellar. The bounce means the coin is in a bullish trajectory following the complete reversal of yesterday's losses. As an illustration, it is up roughly 20 percent from last week's lows, anchoring its leg up at around $0.24. #IOTA Technical Analysis From the daily chart, IOTA is firm and price action is bullish. The immediate support is at $0.24 while resistance is around $0.36, or August 2022 highs. Notably, prices have broken out from a descending channel following today's bullish engulfing bar. Therefore, buyers have the upper hand from an effort versus result perspective. Subsequently, buyers can ramp up on dips targeting $0.36 or August 2022 highs in the short term. This preview will continue to hold as long as prices are trading above $0.24—last week's lows and, for cautious traders, above today's lows at $0.27. What to Expect from #IOTA? Traders are bullish, and buyers have succeeded in soaking in intense selling pressure. Since prices have broken above the descending channel, IOTA is recovering as the coin bottoms up after sharp losses over the last nine months. Resistance level to watch out for: $0.36 Support level to watch out for: $0.24 Disclaimer: Opinions expressed are not investment advice. Do your research.
BITFINEX:IOTUSDLong
by Bitcoin_Analyzer
IOTA: Little By Little 🤏Little by little, IOTA is moving upwards with baby steps and seems to be willing to leave the magenta-colored zone between $0.06007 and $0.3634. Although there still is a chance that IOTA could develop a new low deeper in the magenta-colored zone, it would be well advised to not get too close to the resistance at $0.0600, as falling below this mark would bode ill for the altcoin. Instead, IOTA should rather continue to rise and climb above the resistance at $1.0550, which would provide a good basis for further ascent.
BINANCE:IOTAUSD
by MarketIntel
IOTA: Shake It Off!I’m just gonna shake, shake, shake, shake, shake, shake… IOTA should really turn up this Taylor Swift song and step up, for we expect the altcoin to shake off the recent correction phase and to move upwards, crossing the resistance at $1.0550. First, though, IOTA must finally complete wave ii in magenta, which could initially lead it a bit deeper into the magenta zone between $0.3634 and $0.0600. However, the altcoin should be careful not to drop below the support at $0.0600.
BINANCE:IOTAUSD
by MarketIntel
IOTA Breaking From a Bear Flag, Bulls Targeting $0.39Past Performance of IOTA There are signals of strength for IOTA in the daily chart. At spot rates, the coin is up eight percent versus the USDT. This is positive for optimistic buyers following the correction on June 1. Further gains reversing losses of mid this week would complete a bullish breakout above the multi-week resistance line marked by the Middle BB. #IOTA Technical Analysis Technically, IOTA prices are solid, and bulls are confident. The immediate support line is at $0.33, while a close above $0.36 and the middle BB may initiate more accumulation in the short term. Ideally, the immediate target for optimistic IOTA buyers stands at $0.39 or May 9 highs. However, if there are gains above $0.36, traders may begin loading, expecting more gains above the current bear flag. On the flip side, deeper losses below $0.33 may force IOTA to $0.30—or lower. What to Expect from #IOTA? Despite the optimism, IOTA prices are consolidating. IOTA bulls are resilient and prices are trending at this week’s highs. Further gains above the bear flag may be the basis for another leg up in a recovery. Resistance level to watch out for: $0.36 Support level to watch out for: $0.33 Disclaimer: Opinions expressed are not investment advice. Do your research.
BITFINEX:IOTUSDLong
by Bitcoin_Analyzer
MIOTA (IOTA) Buy ZoneMIOTA (IOTA) Buy Zone -------------------- BIAS Mid-Term : Bullish Risk : High On 4 hours timeframe we can see out that the MIOTA formed out the bullish pattern and retest long-term mini zone is at the its potential reversal zone level . -------------------- $IOTA/USDT LONG SETUP Leverage : x3 - x5 Entry Price : 0.4925 - 0.479 TP 1 : 0.51 TP 2 : 0.525 TP 3 : 0.5444 TP 4 : 0.5577 TP 5 : 0.5789 TP 6 : 0.597 TP 7 : 0.625 TP 8 : 0.6596 Stop Loss : 0.45 *Maximum 3% of Portfolio. *Unload 12.5% at each TP. Whenever TP 2 hits, Move stop loss to entry. --------------------
Long
by Zerene
IOTA: Two RoadsTwo roads diverged in a yellow wood, And sorry I could not travel both And be one traveler, long I stood And looked down one as far as I could To where it bent in the undergrowth… The first stanza of Robert Frost’s poem “The Road Not Taken” describes IOTA’s situation quite well. Two roads are spread before the altcoin – which one will it take? There is a 48% chance that IOTA could decide to go downwards and drop below the support at $0.5736. However, we primarily expect it to rise up, crossing the resistance at $1.0550. And if IOTA has made it this far, there is potential for further upwards movement.
BINANCE:IOTAUSD
by MarketIntel
1
IOTA - In case BTC will be bullish..BTC direction is uncertain, so use only half of usual volume. - Level is clearly visible - Multiple touches - False breakout - With only two touches of support chances of breaking down are slim. Will break down only if BTC goes that way - Will enter when price squeezes to the level on lower timeframes, the base will form and the strip will get faster. What do you think of this idea? What is your opinion? Share it in the comments📄🖌 If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊 P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
Long
by Artem_Dishel
4