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IOTUSD

IOTA - Just one more leg down to goIn ElliottWave terms, IOTA has shown a clean impulsive 5 waves up from $0.14 to $1.10 this summer followed by a corrective 3-waves down move which is still in progress. However, it does look like IOTUSD is nearing a bottom which should complete over the next few weeks. As with many cryptocurrencies, visualising the chart is best done in log scale and hence the fib levels themselves should be log-based. As such, I am looking for a bottom around the 0.618 retracement of $0.31 or the 0.764 retracement of $0.23. While it could still technically retrace lower, a strong move below $0.23 would have me rethink the count though it's less likely to play out at the moment. Once the correction is complete, the ensuing rise should take us to at least $5 and above in H1 2018.
BITFINEX:IOTUSD
by Eboard10
7
IOTA: Potential head & shoulder! T1: 56 cent & T2: 65 centOur first target from our original post of IOTA was hitted. There is really good potential of making a new trade with a potential head- & shoulderpattern. Buy options: - You can buy at 45-46 cent, just above the big support line of the 45 cent; - You can wait the breakout of the neckline of the potential head- & shoulders pattern at 49 cent; - Or you can buy at a breakout of the red resistance line. A good stop-loss would be 45 cent or just below. Target levels: 56 cent and 65 cent.
BITFINEX:IOTUSDLong
by UnknownUnicorn1413254
1
IOTA Buy OpportunityIf the price bounces from the support zone formed by 0.50000 and 0.47000 levels, we'll get a buy opportunity. RSI is going to confirm price reversal and do it near the oversold zone. MACD histogram also reverses and it will support the upward movement. DMI indicator tells us that bears are strong, and it's better to wait when I ADX line reverses and starts falling. Also the downtrend line is a barrier for possible upward movement. That's why we should wait when the price breaks it and moves upward. We can place pending orders for buy at 0.55000 level and stop orders below the swing low at 0.48000 level. Profit targets are 0.65000 and 0.80000 levels. If the price drops below the support zone, we should delete buy orders and wait for new trading opportunities.
BITFINEX:IOTUSDLong
by DLavrov
6
IOTA How to TradeThe price is going to bounce from the uptrend line. We should wait for confirmation of price reversal from RSI. Also it will be good, if MACD supports upward movement. But there is a variant which allows us trading based on the current market conditions. We can see that the market moves in range. Bollinger bands are narrow and DMI confirms range market conditions. We can try to catch a volatility breakout. For this we should place pending orders for buy above the local swing high. It's 0.58000 level. Stop orders must be at 0.46000 level. Profit targets are 0.80000 and 1.00000 levels.
BITFINEX:IOTUSDLong
by DLavrov
12
IOTA Buy OpportunityThe market passed through the cloud and reached the strong downtrend line. Pennant chart pattern gives us a signal that the market can break the downtrend line and start a new uptrend. We should be ready to catch this movement. Pending orders for buy must be placed at 0.65000 level with stop orders at 0.57000 level. Profit target is 0.75000 resistance level. The part of long positions should be left for long run. If the market reverses from the downtrend line and drops below the cloud, we have to delete buy orders and wait for new trading opportunities.
BITFINEX:IOTUSDLong
by DLavrov
5