IOTUSD
IOTA/USD POINT & FIGURE / Fibo Price Target 1:10 Risk:RewardFibo Price Target 1:10 Risk:Reward
Updated for clearer picture.
O Support
X Resistance
Point & Figure a great charting technique to understand the sentiment.
Basic trendlines also apply.
Increasing O's indicate increasing buyer power and areas of supply.
(Think of it as tug-of-war between X s and O s.)
Target +7,5$ in first wave.
SL on chart.
IOTA. A signal for purchase. Target: + 100% = $ 8
Despite yesterday's noticeable decline during the day, IOTUSD managed to close only slightly below the moving averages.
And the indicator "Crossing moving averages" at the closing of the day gave a buy signal.
As you can see on the chart, the last buy signal gave a 700% profit: entry at a $ 0.5 mark and the exit on $ 3.5.
Let's see how it will be this time.
Graphically we see a flat. The rate should overcome the $ 4.5 mark in order for us to talk about the beginning of growth.
The next resistance level is at the maximum point - $ 5.5
In case the rate overcomes that level, the calculated goal based on the height of consolidation and the size of the previous wave is $ 8- $ 8.5
If we calculate the multiplicity of growth (many cryptocurrency pairs show the repetition of the multiplicity of growth on the continuation of growth), then the top of the next large wave is at $ 40.
Recommendation: buy
Cancellation of the idea is below $ 3 on the closing of the day
IOTA About to Break OutIOTA is forming a bullish ascending triangle and a symmetrical triangle on the RSI. These triangle indicate that a big price move is happening soon. Almost every other cryptocurrency has exploded, and now it's IOTA's turn. Also, due to the same reason, we know that the triangle will break upwards instead of breaking downwards.
IOTA Still RangingIOTA is currently ranging with support from the central moving average of the KRI. It sits in the dead center of this indicator and has a long way to go, up or down. The upper and lower bounds are of the KRI are beginning to contract sharply, which indicates a breakout soon. On the downside, it will find support at the lower bound of the KRI at $3.02, though it will likely first bounce off a Fibonacci level at $3.25, which is a nice psychological level as well. Above, we have a Fibonacci level at $4.36, the upper bound of the KRI at $4.62, the psychologically significant $5 mark, and a Fibonacci Extension level at $5.06.
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IOTA RangingNot much has changed since yesterday. IOTA is currently ranging with support from the central moving average of the KRI. It sits in the dead center of this indicator and has a long way to go, up or down. On the downside, it will find support at the lower bound of the KRI at $2.84, though it will likely first bounce off a Fibonacci level at $3.25, which is a nice psychological level as well. Above, we have a Fibonacci level at $4.36, the upper bound of the KRI at $4.94, the psychologically significant $5 mark, and a Fibonacci Extension level at $5.06.
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IOTA IOTA is quietly on the move again, bouncing off the 3.20 $USD mark to currently 3.96 $USD as of the 5/01/2018 – 5:39 AM NY Time.
IOTA touched the 3.19 $USD support mark several times and time bounced off with the exception of a couple of spikes, the lowest 1.11 $USD on the 21/12/2017.
Right now it has been steadily moving into a squeeze at the top of the ascending triangle, with the MACD showing higher peaks below the zero line.
It is now just a matter of time to wait and see if it breaks out of the triangle formation and for the third time heads off for the 5.55 $USD mark.
What is the plan for IOTA? IOTA has been in a well defined frame fulfilling an "ABCDE" structure... well, not totally because "E" is still missing.
That is why our plan A is going to meet the "E" appointment in the $ 3 area.
If IOTA decided to try to break that "frame" it would come up against a strong resistance so we should be careful.
For the time being I will wait to see how it respects the descending angles and when reach "E" I will evaluate the strength of a possible upward movement.
(Obviously if he goes crazy and decides to attack the resistances and breaks them we will have to make a new plan.)
I wish everyone the best!!!
IOTA Lagging, Could be Entry OpportunityIOTA still appears to be in the doldrums, though it is gradually drifting upwards in a purely technical move. It will likely face resistance at $4.38, a Fibonacci Extension level, but has support from below at $3.88, the central moving average of the KRI. This seems to be very unimpressive for Wave 3 of the impulse segment of the Elliott Wave, as this is supposed to be the longest and strongest. Other than the stated levels from above, there is a relative vacuum zone before the upper bound of the Kovach Reversals Indicator at $4.90, so there is still hope.
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Happy new iota!This might be one of the best coins to start your 2018 with. This chart shows a triangular pattern on a 1 day frame.
IOTA is backed with some great technology and has great potential. This coin is only available on Bitfinex and Binance. When iota gets on other exchanges the volume will be influenced heavily. This means that on a long term this coin also looks very nice.