Get started
EylemCulculoglu

IOTA Death Cross formation - Prepare for price drop

Short
IOTA (BITFINEX:IOTUSD)  
EylemCulculoglu Updated   
BITFINEX:IOTUSD   IOTA
Trend Analysis Chart Patterns Harmonic Patterns IOTA iotausd iotausdt iotaforecast iotabtc iotaanalizi IOTASHORT miota miotausd
11
11
trendanalysis chartpattern harmonicpatterns iota iotausd iotausdt iotaforecast iotabtc iotaanalizi iotashort miota miotausd
IOTA had a Death Cross formation on the daily chart. Death Cross is an important bearish signal generated when the 50-day moving average crosses below the 200-day moving average.
Stoch RSI is over-bought on the daily chart which also confirms the possible bear run.

I expect the price to drop till 1.2148 (fib. 0.618)

Here is my trading idea:

Short at: 1.31
Take profit at: 1.21
Stop loss: 1.45
Trade closed: target reached
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.