I expect IOTA/EUR, IOTA/USD to form a right inversed shoulder. Thereafter rejection of previous support, then breaking the downtrending resistance line for a mega bull.
Simultaneously IOTA/BTC should break out of the diamon bottom formation that is in the making for approx 3 years.
On the higher time frames we see a repeating pattern. A so-called pattern fractal. I think we are currently trading on the lower bound of the mean growth channel.
On the lower time frames (hourly) we are currently working out wave C before going higher.
No financial advise..
440'ish seems to be a nice entry point.
I don't want to be negative, but I see some long shadows touching the downtrending resistance in its current pennant. We might see a short-term correction forming an inversed H&S. As long as BTC doesn't support, I don't think IOTA will break-out either.
Interesting what you think! Let me know
On the daily timeframe we see that IOTA broke the major downtrend. On the hourly we see it's currently riding nicely up and found support at .768 (which coincides with the first major explosion treshold of couple of months ago). It's currently consolidating in an ascending triangle and tries to push through the resistance, which it is likely to do soon. The...
BTC / USD pair broke major down-trending resistance 4 days ago. After quite a substantial run up, BTC is now consolidating just under the mean.. We have seen one fake-out, but there was not enough volume push it well over the mean. I currently see a cup and handle pattern, we are now consolidating inside of the handle. It's very important - so cloce to the mean -...
