BITFINEX:IOTUSD   IOTA / Dolar A.S.
If it brakes below 2.7 significantly it looks like a longer downtrend !
Watch for bounces with volume in the critical zone
when we reach our last resistance at ath             watch for doubletop !
Komen: also we can see a double bottom followed by a breakout on 3.78 !
Komen:
Komen: update ^
Komen: breakout confirmed ! target 4.5 then 5 then sky !
@Sofsayen Thanks for your analysis! What does the double bottom indicate?
Balas
Sofsayen unfathomableman
@unfathomableman,
a double bottom is a bullish scenario ! but this also can turn into a flatbottom triangle wich is a bearish sign !
Balas
@Sofsayen, Thank you very much for the visual explanation! this doesnt affect the critical area "buy in" zone does it? Are we still looking at 2.8 to 3.3 buy in?
+1 Balas
Sofsayen unfathomableman
@unfathomableman, yes ! if we see a breakout from 3.7 _ 3.6 ish bullish confirmation will be at somewhere 4.20 for breakout , above the downtrendline ! if we get confirmation it might be a good idea to buy in !
+1 Balas
@Sofsayen, It's looking like it might breakout
Balas
Sofsayen unfathomableman
@unfathomableman, thats what i was talking about ! but wait we need to see more volume and a break above 4.2 wich needs to be held !
Balas
@Sofsayen, Hmm, this is a hrad one! :P
Balas
unfathomableman unfathomableman
Balas
Sofsayen unfathomableman
@unfathomableman, you can forget about that doublebottom when we reach 3.5 that would be denial for doublebottom
Balas
@Sofsayen, Pretty sure it's broken free, whay do you reckon?
Balas
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