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IOTA / Bitcoin

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IOTABTC trade ideas

$IOTA - Time to accumulate.We're either on the brink of an Alt Season with BTC.D capping out at the 200MA weekly, or we're about to start creating a trading range. (or just another bearish retest before dropping lower - trade what is, not what you want it to be.) Trading Range Entries/Exits: Lowest Red Range = TP1 Highest Red Range = TP2 Lowest Green Range = Accumulate in/above. Stop loss below current lowest low by 3%. Trade current trend: Acquire: 2280 - 2300 Targets: 2350 > 2388 > 2470 > 2510 > 2572 Stop loss: 2235
Long
by The_Paradoxed_Prophet
1
IOTA: Relief Rally against BTC. What are the next resistances?As Bitcoin got another punch yesterday, Alts started to rally against Bitcoin. In detail this is what I see on 4H: - The market got caught in a descending triangle in July which eventually led the price to follow a descending channel. - At this time we also got a MA50/MA100 cross down shortly after. Notable is also that we got a MA50/MA100 and a MA100/MA200 cross down on the hourly chart while the price was in the triangle. - RSI was overbought at the top of the triangle which supported the downward movement. Although following the downward channel, this led the daily RSI being oversold. - MACD crossed down too when confirming the triangle with the down move. The support on 2100 sats (or 0.25$) then stopped the downward movement (for now): - The reversal got supported by a hammer candle stick, which is a bullish reversal candlestick pattern that mainly occurs at the bottom of downtrend. - Price broke on the hourly chart trough the MA50 and MA100, now it is attacking the MA50 which is currently at 2100 sats. - On daily, MACD may cropss soon up, and the RSI is abrely not considered oversold anymore. - Price rallied about +12% since the bottom. Now IOTABTC hast to face lot of further resistnaces to stop the bearish trend, amongst others this are: - Resistance at 2800 sats. - MA200 on the hourly chart - MAs 50/100/200 on the 4 hour chart - To stop the main bearish trend, a cross up of MAs on daily is needed. This all can change vastly as BTC dominates this a lot.
by nico14