IOTA BTC OVERSOLD

IOTA IOTABTC is showing an oversold situation on the hr chart RSI indicator.

Also bullish turn, from hitting solid support line, which has seen 3 previous bounce offs.


Note not financial advise, this is intended for educational purposes.

Comment:

After bouncing off the support initially IOTA met resistance and retreated back to the support around the black horizontal line. This support is being continually tested now and will likely result in a breakout to the downside given the daily hr chart shows room to go lower and the heavy resistance on the upside on IOTA.
However, this is one crypto to watch and may offer an opportunity IOTA at a reduced price when the RSI on the day chart reaches oversold position.