IOTA - possible correction ?descending triangle forming, descending triangle on RSI - 30 min broken and retested now as resistance, descending histogram on macd
Iotausdt
IOTUSD (D): Iota is out of the mud. > 2 > 4 > 8 USDVW has a remarkable cooperation with Iota. Bosch too. Bosch and VW are able to make IOTA to a standard in the automotive industry. IOTA broke the 300MA and is on the way to 200MA/100MA (green Circles). All of this could trigger a long upward trend. i'm long.
Targets:
Fibo 0.382 = 2.32 USD
Fibo 0.618 = 3.55 USD
Fibo 1 = 5.80 USD
Fibo 1.618 = 8.75 USD
Psychological barriers are 1, 2, 3, 4 and 5 USD.
Let's see what happens. Happy trading. :-)
IOTA Death Cross formation - Prepare for price dropIOTA had a Death Cross formation on the daily chart. Death Cross is an important bearish signal generated when the 50-day moving average crosses below the 200-day moving average.
Stoch RSI is over-bought on the daily chart which also confirms the possible bear run.
I expect the price to drop till 1.2148 (fib. 0.618)
Here is my trading idea:
Short at: 1.31
Take profit at: 1.21
Stop loss: 1.45
IOTA/BTCIOTA moving in rising channel
now is near support of channel+demand zone
RSI oversold
waiting for continue rising movement
IOTA MegaphoneI would like to offer you my comprehensive view on IOTA:
Starting with fundamental analysis:
The main innovation behind IOTA is the Tangle, a revolutionary new blockless distributed ledger which is scalable, lightweight and for the first time ever makes it possible to transfer value without any fees. Currently it is in Beta, not trading on many exchanges yet and not having a proper wallet (Trinity wallet released soon).
IOTA's lofty stated aim is to serve as the backbone for the Internet-of-Things (IoT). If this is accomplished on a wide scale IOTA will be a major player for a long time to come.
Expected upcoming events/Announcements coming in Q1:
1. Trinity - a fool-proof wallet release
2. Announcing some of the partnerships for the AV testbeds
3. Mystical Q project
4. More exhanges (Omoku.io, etc)
Technical Analysis:
1. We have a breakout from the falling wedge (purple) and it has nicely tested its previous resistance line (bullish signal)
2. We have a breakout from the descending triangle (orange) and it has nicely tested its previous resistance line yesterday (bullish signal)
3. We are currently trading the ascending triangle (green). Breakout north from the triangle will confirm a bullish trend. This zone will be good for going long (above 2.33 $)
4. Treading the broadening megaphone formation gives as a nice target of 8.5 $ with the Risk/Reward Ratio 1:4
5. Daily and Weekly StochRSI on the bottom turning upwards
6. Bullish divergence on StochRSI
7. BTC has unfortunately a huge impact on all the altcoins so watch BTC price as well
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***** This is not a trading advice. Please invest responsibly *****
Stop it with those triangles - Don't even tryThere was a time when they were useful. the upward trend that followed when we broke through the first triangle after the massive early December price increase.
However since then, descending triangles, ascending triangles, all those pretty channels and wedges, they don't tell us shit anymore.
Hell, I can't even make much sense of those indicators. Maybe there are others who can include even more indicators and combine them in some clever way to get an idea what's happening next with this revolutionary technology's token price.
I have yet to see a single post on here which managed to accurately predict the next move. And I like to think I have read them all.
I'm not a big fan of fundamentals, but here is what I do think:
It won't moon anytime soon.
Shit, the price probably won't even go through the roof of a hobbit hut before March.
It (the tangle) is the foundation for an entirely novel economy and this token is one of the fundamentally solid and safest investments to make on the cryptomarket.
Call me crazy.
