IOTA is descending accurately along the downtrend line! I expect it to go all the way down to the 37 support level. If if it concludes there and shows concrete signs of upward movement, I will buy in big there as I expect this major coin and great project behind to hit all time highs in the coming month, which would then mean nearly +200%. If even the 37 support breaks I will try to catch the lowest point, don´t think it will go lower though.
To conclude: Buy: 37 Sell: 64 Target 1, 80 Target 2, 98 Target, 109 All time high Stop loss: moderately following the trend.
If the current downtrend line clearly breaks (+3%) I will check the current new signals.
Commentaire
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IOTA went as far as 38, but is still fragile and on low volumes and far beyond the downtrend line, I expect it to retest the the lower support or at least go half way and would wait with new long trades and wait for clearer signs of reversal
Commentaire
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As I predicted the coin fell half way and is currently stable on 41.1, perfect time for slow buying even of bigger volumes, I am pretty sure that it is now at least a good short term trade realistically aiming for 45 cents with tomorrows price action that will surely evolve and can make you great 8-9% or more, I got in now with the rest of my position
What do you think about the falling wedge forming?
investra
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@hughxie, volume is an essential ingredient to confirm a falling wedge breakout. Without an expansion of volume, the breakout will lack conviction and be vulnerable to failure.
And IOTA currently has no punch when it comes to volume, hope that will soon again, too much BTC focus at the moment.