IOTABTC trade ideas
Still in descending channel, but we are close for great entriesA possible descending triangle is forming, so more likely to go down than up. Still, there is hope since this will be one last drop if it does go down.
However, entries now with tight stop loss, are valid.
Good luck everyone ;)
**LEGENDS**
BLUE = Bear/Resistance
Yellow = Bull/ Support
~Explore the chart for possible scenarios of price actions - use zoom and scroll for better view.~
/*This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*/
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And please keep those Stop losses in place!
Fractal dates are moments of interest, where price and time collide to create oscillation - vertical lines!
Thank you,
Ajion
IOTAIOTBTC
Forming the accumulative triangle under the all time low price where we can go before the next cycle moving. Stoch RSI almost overbought, Aroon trend indicator still bearish and now IOTBTC near the resistance line.
Our loss limited 0, profit unlimited. Remember about capital and risk managment!
25 oct -> Will iota break out its pattern and finally go up?! In the last couple of days, you see that the price moved in a consolidation pattern, which is the falling wedge. Now the question is, in which direction if the price going to break out?
Well there are a couple of things that could indicate that the price is going to break out to the upside
1. The price is at a support line
2. The last candlestick ended up in a hammer, also you see a high volume on this candlestick pattern.
3. You see that the volume is rising
Because of this, it is likely that the price is going to break out upwards. There are multiple ways to enter here, always check out if the risk/reward is perfect for you:
- When the pattern is broken, which is safer
- Buying at the support zone, which is a bit riskier
- Entering anytime soon is the riskiest
Stop loss:
- Below the support zone 0.000074996
- Trailing stop, if there is an uptrend
Target:
- See the yellow areas above
If you need any help with TA or explaining this, send me a DM!
DISCLAIMER: ALWAYS keep in mind! That this is NOT an investment advice, but an analysis. You can do whatever you want with this information, so trade at your own risks!
Iota price analysis moving forwardAs seen we are at the bottom of the downtrend hovering at strong support zones of 7300 satoshi levels and bouncing back. I sense this is accumulation happening around here and price should breakout regardless and minor + - scenario in case BTC goes haywire. T1, T2 and T3 are mentioned with a strong resistance area around 0.38 fibb levels. Please contribute if you feel what I see is a possible trend moving forward.
Thanks
IOTA is showing bullish divergence on the RSI/CMF/MACD.IOTA/BTC is showing bullish divergence on the 4-hour RSI, CMF, and MACD as highlighted by the orange lines. We also got a bullish cross-over on the 4-hour MACD as well a short while ago. IOTA found support on a previous support zone that we saw it hold back in August around 7450-7500. On one of my fib charts, it is holding the .382 around 7660 pretty well so far. Risk/Reward is pretty good for this one so long as Bitcoin can remain steady.
Higher risk entry (at the .382 fib line on one of my charts): 7650-7710.
Safer entry: 7500-7600.
Target 1: 8200 (.786)
Target 2: 8900 (.618)
Target 3: 9350 (.5)
Targets were charted on fib retracement levels.
--This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility.