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IOTA:USD - bullish momentum building, will it last?TL:DR Bullish momentum developing on the eve of 'Q' announcement, if it lives up to its billing then I expect a break of $2 all the way up to $2.50+. Underwhelming news could see us back at $1.50 This is the Iota:USD chart with 1D candles. Here is what I said last update "HOWEVER, this chart doesn't show me strength and, unless there is some legitimate good news to increase adoption, I expect we actually move lower toward $1.36." Well price bottomed at $1.34 before reversing on good news. I also discussed in my last update m frustration with their horrible wallet and how it has greatly held the coin back. Since then they have released the Beta version of their sparkling Trinity Wallet which by all accounts is a raging success. With the release we have seen a steady price increase with it currently up 35% from its low 5 days ago. The chart to me shows signs of bullishness however there are 2 major hurdles in the way. The first hurdle is the downward trendline going back 6 months that I suspect will give strong resistance right at the $2.00 area. After this I expect resistance around the $2.50 - $2.57 area. If these two prices can be cleared then we may see major price action to the upside. Now, if price cannot break through the $2.00 mark then I would expect a retest of the $1.50 which has acted as a very strong support. At the moment I believe it would take a Crypto-wide downturn to see Iota break much below the $1.50 mark. One concern I have is that what we are seeing is a "buy the rumor" situation as we near the supposed announcement of "Q" on June 3rd or 6th. The Iota community has been abuzz about Q for at least 6 months and has been a major reason why many have held onto the token. If anything goes wrong with the Q announcement we could see a retrace to $1.50. What could go? A delay, an underwhelming announcement, or simply a "sell the news" type reaction. Time will tell... Fundamentally I am most excited about Ether and Iota and am long term bullish on these two projects. Iota appears to be actively working out its problems related to (1) its wallet (2) horizontal scalability. They also continue to make inroads with large automobile and IoT companies which will hopefully become the backbone of a robust, high speed Tangle. Is the market down from its all-time-high? Yes, Iota is currently down 67% from ATH. To me this is the time to accumulate, just like 2009 was the time to scoop up cheap stocks, now is the time to scoop up cheap coins. The bear market will come to an end and i want to be well positioned. ***This is not investing advice. I am not an investing professional. Do not invest more than you can afford to lose. All investors should seek guidance from licensed financial advisers and not random people on the internet.***
BITFINEX:IOTUSD
by ruud_one
1
IOTA, IOTABTC - Looking Quite BullishIOTA, IOTABTC a popular top 10 coin and has had a huge run-up last year so let's see how it's doing at the moment. Analyses - After a good consolidation and retracing all the way back to the .618 - .65 fib area. This is a good area for support and some buying action. - IOTABTC did manage to break out of the fallen wedge pattern rather forcefully. The spike was not only lead by the overall market sentiment but also due to some great partnerships announcements such as with the United Nations, Richard Soley and DNB ASA in Norway. This could drive the price up more in the coming days/weeks. - A big and forceful spike is very indicative for a wave 3 so if that's the case then we're in an (impulsive) wave 3 of a bigger degree wave 5 at the moment as outlined in the chart. - And if we look at the bigger picture, IOTABTC is looking to make a (big) cup & handle pattern so look for a break out of this pattern as well. So there you have it, a brief perspective for IOTABTC. Leave a comment if you have any questions. Like the post, if you liked it and share it if you loved it. This is for good karma. And until next time, good luck with your trading! Disclaimer This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
Long
by Trade_Masters
IOTA/USD (Falling Wedge)Looking like a falling wedge pattern leading to support between $1.6 & $1.7, and that's where the buy zone is going to be in this trade. RSI is showing bullish divergence on the 4h chart, I think it is likely we see another low here before we breakout from the pattern. Favourable Risk to Reward here Entry: @ $1.68 - $1.61 Stop-Loss: @ -8% TP1: @ $1.96, TP2: @ $2.10, TP3: @ $2.26, If IOTA manages to break the pattern to the upside before getting filled, buying the breakout would give a lower Risk-to-Reward value, but I think it still would be a good trade to take. :D
BITFINEX:IOTUSDLong
by NarkoTA
IOTA less scary chart ;-) My last chart for IOTA hasn´t been very kind to the token. It showed a harmful correction to a level at 0.37$ - what is still possible - who knows the future? In this chart I combined the chart patterns with the EW, even when some are telling me that EW is "rubbish". First we see a long negative trend channel, beginning at ATH and ending at the last low. It has been broken two to three times on the lower limit but not one time on the upper limit. We can consider this channel as very strong. Within this strong channel we can find a possible EW- correction. Yes, retrospective it is more easy to find this. At 0.91$ the trend turned to be positive, with IOTA entering a new trend channel. Also this trend was quite stable till IOTA reached the last high at ~ 2.40$. I drew a new and motive 12345 EW in this channel. After passing the high IOTA turned and became negative - comparable to the other altcoins and Bitcoin. As I´ve shown the token shows quite stable trends, normally it stays within a forming trend channel. So I´ve drawn a new negative trend channel and tried to find a possible EW-corrective wave within - this time not only retrospective but also projective. Actually there are tow possibilities in my opinion. scenario a) IOTA breaks through the upper limit of the trend channel to leave it and to enter a positive trend. In this case we would have a ABC-correction - not a ABCDE one. And IOTA would rise to ~2,28$ and in the long run to prices above 3.71$ scenario b) IOTA rebounds at the limit and falls back into the channel. In this case it would head to lower prices at about 1.45$ - if this support wouldn´t be strong enough the next supports are following (see orange lines). RSI is in bearish zone but will it break the trend line to generate a positive sign? MACD is also bearish but not far away from neutral, so it could change everytime. In the long run I expect higher prices as shown with the black arrow unless we get no negative news from the market or the foundation.
BITFINEX:IOTUSD
by Luettis
2
IOTA/USD how it can be played out on 1h chartIOTA finished major 1st cycle and I'm assuming that we're currently in the beggining of second one. Big wave 1 seems to be finished and we entered bearish wave 2. Now it's a tricky situation, because we're still in bearish market, and alts are moving very slow. Trading in a market like this one, is not for begginer traders as it's very difficult and tight stop-loss is a "must have". It's always easier to invest into bull runs and "join the fray" as everything is going up. As market is bearish, we have 2 options available (for begginers): It's great opportunity to buy your favorite coins very cheap It's nice opportunity to check out some tactics and formations, which will help you evolve to be a better trader. More advanced traders will play short positions or even play with leverage on some coins. But that's a diff. topic. Back to IOTA: on 1h chart, I see 2 options here, A) it's in wave "A" and soon wave "B" will start. Waves seems OK, as every wave has 5 waves and there are 5 waves more in there, with ABC waves at corrections. So wave "B" can start shortly, if that 70.80 level will not be broken. B) It's in wave "C" as "A" and "B" were sooner, and we're up for wave 1. In a bigger picture it does not matter as we should be entering bullish move one way or another. I have set some targets there for wave "B" or wave "1" at the strongest resistance levels. If I'm taking a position here, I would play with tight Stop-Loss as mentioned earlier, below that 70.80 lvl. And I would wait for that "Falling Wedge" formation breakout. IF price will fall lower, the next nice buy-in would be at the trendline below. ------------------------------------------------ In my analysis I'm using Fibonacci Levels, Elliott Wave principles, Support and Resistance lines, Candle Patterns and formations, like Head and Shoulders or Triangles (latter more often than the former). DISCLAIMER I’m not a certified financial advisor nor a certified financial analyst nor an economist nor an accountant nor a lawyer. The contents posted by me are for informational and entertainment purposes only. Don follow any analysis blindly, and make your own decisions. Always plan your trades and play with stop-loss. If u like my charts, follow me on Steemit or Twitter
BITFINEX:IOTUSD
by Voytech
IOTA ready for lift off soon!IOTA one of our HODL COINS! Working in some huge channel formation leading up from the beginning.... we should still see a retracement down to 1-1.2$ - accumulating as much as you can in this price will make you very rich indeed come a couple of months down the line, when we make our way to ATH's expect up to 5x ROI. I also expect more downward action as i see BTC going all the way down within the next couple of weeks, the smartest of you will know the alt markets follow the BTC markets and thus will wait till BTC takes the beating down to 5.9k again. Please remember, we are looking for a long term entry.... :)
BINANCE:IOTAUSDLong
by UnknownUnicorn1824771
IOTA/USD Cann Still See More DownsideHello Traders, In this analysis, I am looking at IOTAUSD. This crypto is also correcting the move lower. It has already lost more than -40% of its value. Like always, cryptos are very volatile as you can see and having the right risk management is key to survive in this market. Anyway, with the new low and trendline break, I am expecting more downside to follow to the areas mentioned in the chart above. At some time when the crypto reached that area, I am looking for a bigger correction to the upside to at least to the trendline (drawn in the chart) Invalidation level for this view will be the low at 0.9058. Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view.
BITFINEX:IOTUSDShort
by TradeFxTrends
8
IOTA - H&S to new lows or nearing support?TL:DR I love and I hate IOTA. It is one of my top 5 holdings because (1) it is very different from everything else (2) has feeless transactions (3) is a registered nonprofit in Germany giving it legitimacy and accountability (4) They have an impressive cadre of scientists, mathematicians, developers, and businessmen (5) they have partnered with many big name IoT companies... BUT...(1) by this time they really should have released a beginner friendly wallet, FAR too many people are turned off by their wallet causing them to lose potential community members and developers (2) they are nowhere near their claim of horizontal scalability, even with troves of active community members spamming the network (3) deadline issues (4) just plain bad PR Then there is 'Q', the elusive white whale of the Iota community. Who knows what or how far away we are from it so it's a neutral for me. For now I can forgive their faults as they openly admit they are in Beta and don't expect to be fully functional til Q4 '18 or Q1 '19. Although they need to fix their wallet 5 months ago. In terms of price action we saw Iota lead the market upward on news back in April. Unfortunately the news was just that, news. They published a new website, the announcement and details of the Ecosystem, and the announcement of 'Q'. No finished products, nothing that actually increases its adoption and use. Unsurprisingly we have seen it fall with the rest of crypto. Iota looks to have formed a wedge or pennant pattern. Many chartists have called a Head and Shoulders pattern on IOTA (and many other Alts) which I do not agree with. Just to be complete, though, I have marked the Head and Shoulders target area which is between $0.965 - $1. I believe this signal is just noise and not a valid H&S but time will tell. The 33% retrace line held as support on 5/7 but has since been broken and will act as resistance as seen on 5/15. The 50% retrace also acted as support but has since been broken and is currently acting as resistance along with the top of the wedge. Next look to the 66% retracement area which I expect will act as stronger support and will hopefully be where we bounce higher and break through the pennant. HOWEVER, this chart doesn't show me strength and, unless there is some legitimate good news to increase adoption, I expect we actually move lower toward $1.36. ***This is not investing advice. I am not an investing professional. All investors should seek guidance from licensed financial advisers and not random people on the internet.***
BITFINEX:IOTUSD
by ruud_one
1
$IOTA USD - Possibly not time to shine yetGood day traders IOTA is kinda playing in no man’s land right now. Currently we’re trading below both the 100 and 200 MA on the 4 hr chart. With the 100MA about to cross the 200MA, we might see some additional bearish momentum. Additionally, we have a bear flag being formed to complete this ABC zig zag that should target the .786 correction at roughly 1.30 range. Set your alerts and let this one unfold. If we end up trading above $2.10 without visiting the lower regions first, we’ll be in bullish territory so let’s stay tuned.
BITFINEX:IOTUSDShort
by Kinashi_San
IOTA is still in down trend channelWe can see IOTA is still in down trend channel and head and shoulders target match major support lines, what a coincidence, it's just beautiful. Fibo time zones is telling us to watch out on May 21st. something big could happen. The low volumes make me think that price will cross down the neckline and we will see massive drop and panic. I am ready to buy at the bottom of the channel, but you could short if you can, just wait for more confident neckline crossing.
BITFINEX:IOTUSDShort
by IskrenIvanov
5