IOTA PREPARING FOR A STRONG MOVE UPWARD....MORE STEAM NEEDEDRange bound and trading sideways in the last couple of months. Price bounced from the daily support level at 7490, and broke out of the long term downtrend line resistance but couldn't find enough steam to move above the 200 day MA where we got rejected last week.
However, the bulls were able to prevent price from falling further after a retest of the daily support level. Price bounced strongly from the daily support straight above the 50 and 200 day MA, giving us a temporary bullish setup.
The weekly resistance at 8100 area where we just got rejected appears to be a very strong resistance that the bulls will have to battle with.
A break and a close of the candle above the weekly resistance, will be a confirmation of a possible reversal in trend, as price would have moved above the 200 day MA by then.
After the pull back from the weekly resistance, price broke below the 200 day MA and right now price is clustering around the 200 day MA. Our Focus area right now will be as follows:
Weekly Resistance => 8100
200 MA 7890
Both of which are presently acting as resistance
Daily Support Level => 7038
50 day MA => 7490
Both of which are providing a nice amount of support
Buy Area (long term) => between 7900 - 7038 and down to yearly low of 6315.
For Mid or Short term trade opportunity, it's is better to wait for a break and close of the candle above the 200 day MA and weekly resistance, since price is already hovering around this area.
IOTBTC trade ideas
IOTABTCIOTABTC update
Entonnoir : W/D/H4 (swing)
IOTA vient enfin de sortir de son range daily (jaune) et de casser les ~8000 aka le dernier sommet weekly (entouré blanc), enclenchant ainsi un biais haussier.
C'est arrivé quand je dormais donc je vais attendre la prochaine sortie de compression M30 pour me placer à l'achat.
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Funnel : W/D/H4 (swing)
IOTA finally broke out from its daily compression (yellow) and broke the ~8000 aka the last weekly top (white circle), which started a bullish bias.
It happened overnight while I was sleeping so I'll wait the next compression breakout on M30 to go long.
Iota/Btc!!!! Will come back to lifeIota/Btc will come back to life. Like most coins its in the middle of a reversal pattern in the form of an inverse head and shoulders. The green dashed lines are targets for the future. How long it will take to get there is anyones guess. Right around not its not a bad time to buy for the long term (btc/sats wise). Like always dont jump into things and protect ur mula.
IOTA/BTC long scalp Idea: Miota Fib zones to watch (21min chart)Quick chart to plot a long scalp that might turn to runner.
IOTABTC has been following this fib sequence pretty closely.
There are a lot of fudnamental reasons for this coin to rise.
The 2.618-.764 band is of interest, a common retrace target.
Want to see a disctinct bounce at the 2.618 then retest of 2.764.
If conditions are right, the 4.236-.382 band will be first target.
Trailing stops are best in these situations, in case it runs.
IOTABTCIOTABTC update
Entonnoir : W/D/H4 (swing)
Mon AT précédente tient toujours, je ne prends pas position avant la cassure du dernier sommet weekly (entouré blanc) vers les ~8000 car le prix se ballade en plein milieu du range weekly (blanc) avec un biais baissier mais il y a peu de marge pour faire quoi que ce soit à la vente vu tous les niveaux de S/R présents dans le bas du range weekly.
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Funnel : W/D/H4 (swing)
Still out of this pair as long as we don't break the last weekly top (white circle) at ~8000. The price is evolving in the middle of the weekly range (white) with a bearish bias but there is no reason to short because of all the zones of S/R at the bottom of this weekly range.
IOTA/BTC Long1-Technical analysis:
#Classic Analysis: Price on bullish long-term trend line
& is in minor supportive zone
2-Position details:
*Entry: Trigger in buy zone
*Stop loss=0.0000586-0.0000608
*Take profit 1=0.0000848-0.0000866
*Take profit 2=0.0000992-0.000100
*Take profit 3=0.000115-0.000118
*Profit/Loss ratio= 1.5 minimum (based on TP1)