IOTABTC TradeHere is another wedge, but this time isn't symmetrical, it's bullish. It is formed by green support, several times tested S/R (Look green and red arrows around it) and red declining resistance, also tested several times (Red arrows). You can see bullish pin next to arrow with smiley. And in the end we must not forget 40,52 RSI support.
Now is ideal time to buy (price is dipped a little bit but it is one mad whale which lost patience).
Stop-Loss at 1,5% of buying price.
Take-Profit levels in satoshis: 2583-2610-2642-2714
Furthermore there are some news on CoinMarketCal about this coin which you must visit.
coinmarketcal.com
coinmarketcal.com
Feel free to leave comment if you didn't understood something, I will try to help!
Addresses for donation:
BTC 1B6Fpptrpiu4wkhGRVzorYcrLhtga6mmU8
ETH 0x7be52c9ea791223290db09208171800f73caa365
RVN RFbZSpZnVgJjsqRy9NndhF6qJew1SZFt6v
IOTBTC trade ideas
$IOTA - Time to accumulate.We're either on the brink of an Alt Season with BTC.D capping out at the 200MA weekly, or we're about to start creating a trading range. (or just another bearish retest before dropping lower - trade what is, not what you want it to be.)
Trading Range Entries/Exits:
Lowest Red Range = TP1
Highest Red Range = TP2
Lowest Green Range = Accumulate in/above.
Stop loss below current lowest low by 3%.
Trade current trend:
Acquire: 2280 - 2300
Targets:
2350 > 2388 > 2470 > 2510 > 2572
Stop loss: 2235
IOTA: Relief Rally against BTC. What are the next resistances?As Bitcoin got another punch yesterday, Alts started to rally against Bitcoin.
In detail this is what I see on 4H:
- The market got caught in a descending triangle in July which eventually led the price to follow a descending channel.
- At this time we also got a MA50/MA100 cross down shortly after. Notable is also that we got a MA50/MA100 and a MA100/MA200 cross down on the hourly chart while the price was in the triangle.
- RSI was overbought at the top of the triangle which supported the downward movement. Although following the downward channel, this led the daily RSI being oversold.
- MACD crossed down too when confirming the triangle with the down move.
The support on 2100 sats (or 0.25$) 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.
IOTA - Support Found. Can it hold?With the majority of the alt-coins being smashed over the last few weeks. This gives a brief rest to those swimming in losses.
If BTC dominance does come down alts will turn back up again, how long for? Unsure but have a tight stop loss on this one. This could retest the EMA 34 on the daily and turn around again.