All the indicators (net volume and MACD) are converging with the decrease in volume. The pattern is also to meet its end within a few days, which has last for more than one month. However, we don't know the direction of IOT's next move. Anyway, I think IOT will roar because of the macro market bullsh trend. Hold your position, be patient, smart money should consider opening long position at retracing, I believe the breakthrough might happen in any time and catch all of us off guard.
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The price is still oscillating within the flag, I review it as a perfect consolidation process.
Comment:
Within the flag, we have 4 hits on the bottom and 3 hits on the top, this is normal but only all the top hits happened in 2018 and they are happening more frequently than ever (3 top's and 2 bottom's in 2018). This means the market is ready to destroy the pattern with a higher probability of future bullish move.
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It appears to be a breakthrough, yet to be confirmed by volume, or at least another hit at the top of the flag, it is looking good till now.
Comment:
Seemingly we finally get something interesting going now, slowly but steadily. That is the best pay for our patience.