IOTA is one of the only alts that went on a Bitcoin-level of parabolism during its growth. It was a hard, hard coin to find a time to get in on, much like Bitcoin Cash. At the time it was pumping, Bitcoin was pumping, and the charts mirrored each other.
Unfortunately IOTA is now in bear market cycle decline, but could be very close to finishing. Long term, it's in a huge triangle. I think it's more likely it will break upwards from the triangle, but if it breaks downwards it will be in full blown decline.
There has been lots of FUD around about IOTA, and that's always a good thing from an investor and trader's standpoint. Ever notice how scamcoins like MonaCoin and ADA always have nothing but positive comments everywhere, inviting people to join in the scam and come get duped too?
You know what they say about haters? If you've got 10, get yourself 20.
We can see from Stoch and the Willy21 MAs that the coin is very oversold. Oversold after a long corrective cycle at the apex of the triangle tends to lead to breakouts. We can also see that although the last dumps were violent in terms of price movement, negative momentum on SQZMOM was actually very small, which is impressive on a 6H candle. There are bullish divergences here.
IOTA has major players involved in it and some major people in crypto have joined the IOTA Foundation. They have partnerships for their internet-of-things technologies with many companies, and are one of the best kept secrets right now, in my humble opinion.
Best way to play this is to play the breakout. If IOTA breaks out of the triangle, get in in the blue rectangle. Since IOTA has shown a tendency to go off hard but not be able to sustain the momentum, I recommend taking profits at first prior resistance and the next fib, since the major resistance point is quite far away.
If bullish momentum is very strong, exit half your position at the take profit points to take profits and re-evalute. If bullish momentum is not very strong, you can exit the entire position and re-evaluate.
IOTA is also a very good buy-and-hold strategy.
Unfortunately IOTA is now in bear market cycle decline, but could be very close to finishing. Long term, it's in a huge triangle. I think it's more likely it will break upwards from the triangle, but if it breaks downwards it will be in full blown decline.
There has been lots of FUD around about IOTA, and that's always a good thing from an investor and trader's standpoint. Ever notice how scamcoins like MonaCoin and ADA always have nothing but positive comments everywhere, inviting people to join in the scam and come get duped too?
You know what they say about haters? If you've got 10, get yourself 20.
We can see from Stoch and the Willy21 MAs that the coin is very oversold. Oversold after a long corrective cycle at the apex of the triangle tends to lead to breakouts. We can also see that although the last dumps were violent in terms of price movement, negative momentum on SQZMOM was actually very small, which is impressive on a 6H candle. There are bullish divergences here.
IOTA has major players involved in it and some major people in crypto have joined the IOTA Foundation. They have partnerships for their internet-of-things technologies with many companies, and are one of the best kept secrets right now, in my humble opinion.
Best way to play this is to play the breakout. If IOTA breaks out of the triangle, get in in the blue rectangle. Since IOTA has shown a tendency to go off hard but not be able to sustain the momentum, I recommend taking profits at first prior resistance and the next fib, since the major resistance point is quite far away.
If bullish momentum is very strong, exit half your position at the take profit points to take profits and re-evalute. If bullish momentum is not very strong, you can exit the entire position and re-evaluate.
IOTA is also a very good buy-and-hold strategy.
Komen:
IOTA did indeed dump below the support line amidst Bitcoin mania.
But a healthy recovery. W bottom, cup and handle formation, above the major support line.
Trades can be entered but you have to manage your risk if it doesn't continue upward as it's very much in freefall below main support.
But a healthy recovery. W bottom, cup and handle formation, above the major support line.
Trades can be entered but you have to manage your risk if it doesn't continue upward as it's very much in freefall below main support.
You can enter riskier long trades early with a stop below the large triangle or wait for breakout.