Hey everyone! This time I would like to share with you my IOTUSD analysis. As you can see, IOTA price has been forming a flag pattern during the last two weeks. This kind of pattern is characterized by a decrement of Volume, which is exactly what we can observe in the chart. You can also notice that the last one occured a flag pattern breakout or (if you can to analyze the price by trends) to downtrend breakout.
So, what's next? We can wait for a possible price bounce in the new IOTA trend line before going up. This bounce should be accompained by a MACD inflextion point, which I think it would be a great entry point. Once this has ocurred, we can expect IOTA price to continue its run to higher prices, as $7 or $9 dollars by the end of the year. You have to know this targets ($7 - $9) are based on the flag pattern proyections, since this pattern suggest that once the breakout occur, we can wait for another price increment of the same height of the pole of the flag.
Before you take any investment decision, I recommend you to wait a MACD inflextion point. I'll be updating this post when something important happens.
MY ORDERS:
- Waiting for MACD inflextion point before setting BUY STOP - TakeProfit 1: 6.95 TakeProfit 2: 8.95
Remember numbers can vary depending on your risk profile and price expectations. The numbers I propose should be use as a reference :)
If you find this analysis helpful, don't forget to follow, like and comment. I use to upload new analysis every day :)
Super charting - many thanks for this, it has helped clarify my thinking about this IOTa trade based on the main Flag breakout. Great work and much appreciated ;-)
Juanchobanano
⋅
Thanks @JN9797 :) ! I hope to upload more analysis soon!
mezase
⋅
BTC doing its thing, buckle up after it's done correcting
Phanphucduc
⋅
Nice!
Cryptoxxx
⋅
Just started !
ebo0x
⋅
Hi Juan, Great Job!
Do you have any analysis on IOTA/BTC ?
Juanchobanano
⋅
Hey @ekinburak thanks for writting :) ! I will prepare one for you, I ll tell you when I have it :)