IOTAUSD - Correction is done, time to start the rocket again.
Here's my new favorite: IOTA.
Technical:
During the ABC - correction, a falling wedge was created. Falling wedges are normally known as bullish chart patterns. IOTA breaking this wedge in combination with the bullish divergence both in the MACD and the Stochastic RSI gives a strong bullish signal. Because there is a more or less strong resistance at 4.00$ now, we can use this as a bullish confirmation and open trades as soon as IOTA rises above this point.
Fundamental:
A lot of hype was created around IOTA lately causing and because of the 1000% rise in only two weeks. At the moment, the high media presence of Bitcoin attracts new investors. Those are often looking for the "next Bitcoin". As IOTA kickstarted this rocket lately and as there are many new people, we've got a bunch of new money in the game that wants to be thrown into IOTA.
We have to look carefully what Bitcoin is doing. A correction is overdue. On the other hand, it can go nuts again every second. The altcoin market, including IOTA, always has to bleed in both cases.
Good Luck.
Disclaimer: I'm a relatively unexperienced trader, so don't consider this investment advice.
Technical:
During the ABC - correction, a falling wedge was created. Falling wedges are normally known as bullish chart patterns. IOTA breaking this wedge in combination with the bullish divergence both in the MACD and the Stochastic RSI gives a strong bullish signal. Because there is a more or less strong resistance at 4.00$ now, we can use this as a bullish confirmation and open trades as soon as IOTA rises above this point.
Fundamental:
A lot of hype was created around IOTA lately causing and because of the 1000% rise in only two weeks. At the moment, the high media presence of Bitcoin attracts new investors. Those are often looking for the "next Bitcoin". As IOTA kickstarted this rocket lately and as there are many new people, we've got a bunch of new money in the game that wants to be thrown into IOTA.
We have to look carefully what Bitcoin is doing. A correction is overdue. On the other hand, it can go nuts again every second. The altcoin market, including IOTA, always has to bleed in both cases.
Good Luck.
Disclaimer: I'm a relatively unexperienced trader, so don't consider this investment advice.
Dagangan aktif
Dagangan ditutup: sasaran tercapai:
Target reached. Position reduced. Taking some profit of the table is never a bad idea.
Dagangan ditutup secara manual:
I had an eye on the order book for the last few hours. Some shady things going on there. Trade fully closed now, waiting for a new setup to get back in.
I'm pretty new to trading (about 6 months) and I'm mostly here on trading view for learning purposes. So if someone got constructive feedback, don't hesitate to let me know.