$4.0 seems to have held yesterday . But we are not out of the woods yet. Watch for a break out from the top wedge line. It has to be a strong uncontested series of green candles. Else it might start falling again to expand the wedge. In that case the next buy in could be around 2.8-3.0 mark
Comment:
Downside risk high if 4.35 - 4.4 doesn't break on the topside. Watch carefully . If it goes above 4.5 with a strong move then current downtrend will be broken. Do keep an eye on BTC as well
Comment:
3.8 -4.0 to be retested soon
Comment:
3.8 may be hard to break but very much possible. Those looking to add for the long term can put staggard buy limit orders at 3.8, 3.6, 3.4, 3.2 and 3.0 . Exact bottom difficult to predict and may be very short lived
Comment:
After the bounce from 3.3 recently it hasn't completely broken out of the downward channel yet. If it continues to remain below $4 then there could be another sell-off due to trader/investor fatigue. Testing of 3.4 or 3.1 or 2.6 to 2.8 would be on the cards. Below 2.5 it could be a bottomless pit signaling that the world is not yet ready for IOTA. A simple google search for iota will mostly show news with negative headlines regarding Microsoft partnership confusion which would be a big put-off for new investors. But machine revolutionists can HODL !!!
Here is a nice article to keep Iotanites motivated -
www.forbes.com/sites...of-things-forecasts/
Here is a nice article to keep Iotanites motivated -
www.forbes.com/sites...of-things-forecasts/