Looks like IOTA is gaining strength again as it clearly broke the descending channel to the upside on BITFINEX:IOTBTC. No wonder, if you take into account, that IOTA had several positive news in the last few weeks, and traded . The study of Wyckoff Theory, along with market cycles, would suggest IOTA is being heavily accumulated within this range. With a clear demand level of c and clear supply level of c. . IOTA/BITCOIN is in a range bound and the beginning of uptrend is expected.. The price is below the Day WEMA which acts as a dynamic resistance.. The RSI is at The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend .
Tradingview iota btcIOTABTC Charts and Quotes — TradingView
We've been in long sellers channel till last buyers showed their performance on last channel touch. That means channel switched from sellers to buyers side. Right now all we need is just wait and see following expectations Martin explained in video. IOTA might perform very strong in upcoming days, weeks So on, Iota have already gave us signs to entering position in buy. Previous week volume and broken resistance tell us bullish performance and sellers failure. Because we didn't broke last supply, we still have to, even Welcome to the crypto bubble.
Nobody left trading alts vs BTC. Nobody left yelling "alt season". All important traders are dead. No, not you with your 0. Take no offense, Alt markets are out of sellers and the algorithms IOTA has formed a descending scallop this is a bullish reversal pattern, weekly chart. Random fractal for PT at grey MA line, could go much higher although.. This is an ideal situation for me to go long. God Speed. Another shitcoin looking as bullish as possible.
Plebs will be talking about "Tangle" more than they're currently talking about being bakers. Time for a change in a trend direction. RSI on daily seriously oversold - first signs of bullish divergence already in place. Investment idea long position : 1. BUY - 0. Although IOTA does not have miners or stakers to raise the price, the project has excellent developers and community. In addition, the project counts a lot of enthusiasm in the academic, industrial and technological environment.
The Coordicide event should push prices to higher levels in Until then it is time to accumulate. The weekly chart suggests that It is what I refer to as "bullish cloud". There is a bull div on the VZO indicator as well, which tells us that bullish move is around the corner. I believe this will happen before Christmas.
As for the second offered target, which is anywhere A level where the price did important reversions movements recently. Historical levels like this usually are ideal zone to open one position to buy or to sell. If it does a reversion signal at this level.