cryptolopolis
Panjang

Two near term bullish scenarios for IOTA

BITFINEX:IOTUSD   IOTA / Dolar A.S
IOTA recently jumped up on news-that-may-not-have-been-real-news. That doesn't mean, however, that it's about to die. There is some strong resistance it's bumping up against right now, (black line) but what fascinates me is the support. If it continues to fall in a descending channel (green support line), I believe we'll see a price jump at some point in the next week to ten days in the neighborhood of $7, where I suspect we'll hit resistance again. If, however, it continues through the weekend to get squeezed into this pennant pattern (blue resistance line) I think we'll see a jump up to the $7.75 - $8.00 range, sooner rather than later. Of course, any significant move below support changes this outlook. This is still an early look after a significant increase. I'll be watching closely. Overall, however, I'm long.
And' we've broke resistance. I expect to see MIOTA between $7.50 and $8.00 soon.
Balas
I have been in the red for Iota so damn long now..
Balas
@meaukhan, Given that IOTA was under a dollar three weeks ago and is only a couple of days off an all time high, I'm not sure I understand.
Balas
That is correct. We are expecting a new wallet to come out this month and some of the corporate participants in Data Marketplace will come in public with their own press releases. This should give it a nice push out of this bullish flag. :)
Balas
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