Made this for a friend so thought I'd share (not financial advise). IOTA / IOT has formed a pretty convincing bottom which would indicate the beginning of the next wave cycle, though this should be confirmed by trading volume... which at this point hasn't really been confirmed. I'd keep a tight stop loss just below the previous low point as inidicated on the fibbonaci level also. There is clear resistance ahead but if the price can break through this level we could see a bull reversal formation, which would also need to be confirmed by trading volume. If the price does break above this level and hole, then I would consider adjusting the stop loss to the current resistance level in future.
Nota
Short term update, we could be watching an inverted head and shoulder reversal pattern forming, the right shoulder is possibly in completion but is not confirmed unless the price breaks through the neckline resistance level. The resistance level at the top of the Fibonacci could also be used as a support level if the market turns very bullish
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