hey guys my first post here, seems like IOTA has broken out of a longterm downtrend channel. If we can get a nice green candle to close above the blue downtrend channel it could be a nice sign of a reversal. I also drew a small uptrend channel that has started on the 6th feb (1am), what I'm hoping to see is a slight resistance at around the $2.04 of this small uptrend with hopefully a support at the $1.84 level. A big drop back into the blue downtrend channel would definitely invalidate what I just wrote confirming a bulltrap. But looking at the good news coming into IOTA (i.e. volkswagen parternship) this could be the good news we are hoping for to push us out of this long dreaded downtrend.
Comment:
unfortunately it couldnt keep the strength up and reversal signs are clear seems like a bull trap