IOTA had a sensational rally and is now consolidating in a simmetrical triangle pattern.
Historically IOTA had a correlation to BTC price movements against USD. If it still hold true and Bitcoin starts a correction IOT/BTC will follow.
Bullish Scenario
If we break to the upside a top of +40% from the breakout could be possible.
Take profit along the way in order to manage risks at +25% at the 0.382 fibonacci retracement.
Bearish Scenario
The ichimoku TK bearish recross is showing us that the bearish momentum still valid and a tendency for the price to fall more is quite likely.
If we break on the downside we find support at the 1515 mark at a -32% from the breakout.
Always wait for confirmation as this is a very volatile period with traditional market players (eg CME) entering the space.
Trade safe.
If this trade made you some money. Tips are welcome.
BTC: 372Yed5cnXoHN14a8sdwho7L5uYRxjYQYK
Historically IOTA had a correlation to BTC price movements against USD. If it still hold true and Bitcoin starts a correction IOT/BTC will follow.
Bullish Scenario
If we break to the upside a top of +40% from the breakout could be possible.
Take profit along the way in order to manage risks at +25% at the 0.382 fibonacci retracement.
Bearish Scenario
The ichimoku TK bearish recross is showing us that the bearish momentum still valid and a tendency for the price to fall more is quite likely.
If we break on the downside we find support at the 1515 mark at a -32% from the breakout.
Always wait for confirmation as this is a very volatile period with traditional market players (eg CME) entering the space.
Trade safe.
If this trade made you some money. Tips are welcome.
BTC: 372Yed5cnXoHN14a8sdwho7L5uYRxjYQYK
Dagangan aktif
Entered at the breakout as per the analysis.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.