IOTBTC trade ideas
IOTA looking bullish!
4H Analysis | IOTA
Ichimoku cloud: IOTA's 4h chart shows crossing Tenkan/Kijun lines, where the Tenkan line moves above the Kijun line (= bullish Tenkan/Kijun cross). A bullish Tenkan/Kijun cross in the Kumo (cloud) implicates a bullish move. It would have been a stronger bullish signal if the cross occured above the kumo.
RSI: One of the reasons why I think this is a strong bullish scenario, is that the 4h RSI is sub 40, so there is al lot of room for buyers. Usually up to 70-ish RSI.
Bollinger Bands: A red candle has closed outside of the lower band. This indicates either a downward break or reversal. considering abovementioned analysis, I interpret this as an additional bullish signal.
1H Analysis | IOTA
The 1h chart confirms the 4h analysis in a sense. There is no bullish cross on the 1h, but it looks like IOTA/BTC is heading towards 5200 (about 6:00 PM GMT) Sub 40 RSI, the candles just bounced off the lower band and are moving upward, we maysee the candles testing the lower band again after bouncing off the middle (5050-ish).
This is my first idea published ever! Please let me know what you think!
Cheers!
- 1337crypt0trad3r
A trading opportunity to buy in IOTABTCTechnical analysis:
. MIOTA/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 53.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00005010 to 0.00004200). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00005010)
Ending of entry zone (0.00004200)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.00006260
TP2= @ 0.00007060
TP3= @ 0.00008020
TP4= @ 0.00008540
TP5= @ 0.00009580
TP6= @ 0.00012900
TP7= @ 0.00015600
TP8= @ 0.00018290
TP9= Free
A trading opportunity to buy in IOTABTCTechnical analysis:
. MIOTA/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 53.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00005010 to 0.00004200). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00005010)
Ending of entry zone (0.00004200)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.00006260
TP2= @ 0.00007060
TP3= @ 0.00008020
TP4= @ 0.00008540
TP5= @ 0.00009580
TP6= @ 0.00012900
TP7= @ 0.00015600
TP8= @ 0.00018290
TP9= Free
IOTA showing signs of life! IOTA might be ready to make a run for it here with volume showing up past few days
We would need for it to closed above resistance and retest it as support before entering
Only then can we target local highs, which is a strong possibility if BTC starts to pullback and money flows into alts
Trying to un-tangle this messX's are usually more sideways so that's my biggest caveat with this count but w/e think IOTA A bounces here for a bit of a recovery. Will be great for the USD pair BTC pair took a pounding against BTC's rise so at best this just brings us back up a bit to where we started off.
IOTA : Upto 75% Profits Opportunity RSI : 63
Volume : In good position
Accumulation Area : 4150 sats - 4350 sats
Distribution Area
Target 1 : 4550 sats
Target 2 : 4871 sats
Target 3 : 5181 sats
Target 4 : 5390 sats
Target 5 : 5769 sats
Target 6 : 6230 sats
Stop Loss : 4032 sats
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Good Luck.
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