We had false signals in the last days. One bear trap, another bull trap. This led me to search for a reason. And possibly I´ve found it in two different trend channels - one going down (red) and one going up (green). Everytime when IOTA seemd to leave the downgoing trend channel it stopped slightliy above the upper limit and turned back to trend channel. On the lower side a support line stopped the negative trend (fib 61.8%, 3.83$).
IOTA stayed also in a second trend channel - green. And look at the lines of the two trend channels and the support line. They cross each other at nearly the same time (around the day 01-13).
Perhaps the course of IOTA leaves the negative trend channel before. But wait until at least one more 4h-candle. It could be another bull-trap!
Actually I do not recommend any action!
Indicators: RSI: neutral MACD: not much momentum and neutral (a little bit negative) ADX: no momentum, no trend Volume: low
Komen
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Negative signs all the way. IOTA has broken the shorter positive trend channel (green) AND the resistance line at 3.84$ (fib retracement 61.8%) next support is lower limit of the negative trend channel (red) and / or the support-line at 2.60$ (fib retracement 38.2%)
Komen
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IOTA sent some positive signals in the last hours. Perhaps we haven seen the end of the last downtrend.
@caa91, btw this was an aswer of Dominik at the ama on reddit yesterday :
"Quite frankly, our top priority is to not dictate our strategy exclusively by the price of IOTA, in fact, our strategy is it to decouple ourselves from this whole market craze as soon as possible, and establish IOTA as the first legitimate project with use cases that add concrete value to society.
Remember when we were speaking about Blockchain helping the developing world by solving crucial issues related to trust, corruption and financial access? Very few do. The focus is now on where the quickest gains are to be made, and quite frankly, most of the people at IOTA are disgusted by this, as it will achieve nothing but make those early adopters rich (I mean the Ripple Founder being one of the richest individuals in the world, to me is one of the most ridiculous things ever).
So to quickly answer your question: no. We do our own thing. Let the crypto-currency market do theirs."
caa91
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@caa91, So i mean they are really not interested with these markets and prices. Dont expect anything soon.
Luettis
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@caa91, this is very interesting, thanks. The people are right. If a coin or token should survive the next (and real) crash then because they have a real business model and they are focussing the real market.
It serves to discourage all the non-insider buyers before pump.
It last a long time (see BCH)