Ascending channel on IOTA. Great for a long, but depends on BTC

IOTA has seen a lot of dumps lately. After its low a few days ago, it started recovering fast, and managed to form a very clear channel on the 4h. It has been great to scalp it, and would be about to give a great entry (as marked by the arrow at around .485), but as all alts it is following BTC, so be wary of your stops in case the king decides to dump hard as it has been doing all year.

There are other signs to be tight with your stops: MACD is about to cross down, which usually works well with iota. Also, after a few very bullish days, a correction could be happening anytime. Remember, we are still in a downtrend.

Regardless of daytrading, it could be a good spot for DCA buying if you want to hold this coin, which I very much do.