IOTA is trading inside symmetrical triangle formation and keeps on showing weakness.
We left the channel to the downside and are now testing the trendline.
Downside target of the triangle is clearly the 0.63 support area. BTC is, ragarding the overbought condition on daily, due for a correction and so a test of this support isn'nt that unlikely.
A break to the upside after the retest of the trendline is still possible and could bring us to the already mentioned 1.4 target area.
So let's see how it plays out
We left the channel to the downside and are now testing the trendline.
Downside target of the triangle is clearly the 0.63 support area. BTC is, ragarding the overbought condition on daily, due for a correction and so a test of this support isn'nt that unlikely.
A break to the upside after the retest of the trendline is still possible and could bring us to the already mentioned 1.4 target area.
So let's see how it plays out