IOTA IN VERY CRITICAL ZONE - BIG PROFIT STRATEGY (ADVANCED)
IOTA broke the short term uptrend line and the ones who didn`t take the short term 15% Profit out of the last Kumo break out Pump might be still holding now.
IOTA is currently in a very critical zone and we are very short before sunday, which means most likely prices will be falling more!
So where are we:
We are at the lowest point of the strong 35-38 Zone support and 35 has been tested today already.
Currently we are moving sideways in a very narrow channel, with bears not overpowering the bulls or vice versa.
As we are short before the 35 support it is very critical and we need to closely observe now what happens.
We have a very clear downward channel again, if we don´t get a clear reversal signal, which I currently don´t see any signs for, IOTA might free fall through the 35 support! The next support would be the 25-27 zone, which is a 40% loss!! With sundays low volumes and most likely fragile and falling prices ahead, there is a big chance the 35 support will be broken!
So how to trade:
Long-term investors might just hold and relax, IOTA is one of the best coin projects out in the market and has a huge fan base and use to it for the internet of things (big future topic). Next year we will surely see new all time highs.
Short-term traders who are currently long: Put a stop loss on 34 and a coin alarm in your cell phone. from 34 on we could be in free fall, which will most likely then result in a major bounce back at the 25-27 zone, so a lot of money to be made and nerve wrecking short term losses to be prevented!!!
Take the money out of the bounce back, sell at the highest point and then decide on current situation wether you want to go long again, depending on upward momentum it has, or oberserve and buy in very cheap in the dip after the bounce back. A bounce back to same levels as beofore is possible in a few days, so you can make about 40% on this strategy. The same way it happened with the china ban in September. The same thing can happen here one support zone further down. So we have a chance of huge profit here if the 35 support will be broken!
This strategy is for advanced traders only, who are experienced trading pumps.
Short term traders who currently don´t hold a position: You can buy in now and the follow the same strategy as above if you are advanced. You have a great risk reward chance here. Either the coin will move upward from the current support and you bought very cheap and will make money as it moves upward (target 51, 56, 64), or you can benefit from a deeper dip with a stronger bounce back (and sell at the top). You can also set an alarm for the dip to happen (below 34) and then buy in at the lows. But again - this is only for advanced traders and your own risk.
And very important, to be able to trade the dip and make money out of it, you need to basically observe the coin and be on the computer or close to one to be able to trade it once it happens. So if you don´t have the time to be close to computer and react, the dip strategy doesn´t work for you.
Good luck with the trade you decide for!
IOTA is currently in a very critical zone and we are very short before sunday, which means most likely prices will be falling more!
So where are we:
We are at the lowest point of the strong 35-38 Zone support and 35 has been tested today already.
Currently we are moving sideways in a very narrow channel, with bears not overpowering the bulls or vice versa.
As we are short before the 35 support it is very critical and we need to closely observe now what happens.
We have a very clear downward channel again, if we don´t get a clear reversal signal, which I currently don´t see any signs for, IOTA might free fall through the 35 support! The next support would be the 25-27 zone, which is a 40% loss!! With sundays low volumes and most likely fragile and falling prices ahead, there is a big chance the 35 support will be broken!
So how to trade:
Long-term investors might just hold and relax, IOTA is one of the best coin projects out in the market and has a huge fan base and use to it for the internet of things (big future topic). Next year we will surely see new all time highs.
Short-term traders who are currently long: Put a stop loss on 34 and a coin alarm in your cell phone. from 34 on we could be in free fall, which will most likely then result in a major bounce back at the 25-27 zone, so a lot of money to be made and nerve wrecking short term losses to be prevented!!!
Take the money out of the bounce back, sell at the highest point and then decide on current situation wether you want to go long again, depending on upward momentum it has, or oberserve and buy in very cheap in the dip after the bounce back. A bounce back to same levels as beofore is possible in a few days, so you can make about 40% on this strategy. The same way it happened with the china ban in September. The same thing can happen here one support zone further down. So we have a chance of huge profit here if the 35 support will be broken!
This strategy is for advanced traders only, who are experienced trading pumps.
Short term traders who currently don´t hold a position: You can buy in now and the follow the same strategy as above if you are advanced. You have a great risk reward chance here. Either the coin will move upward from the current support and you bought very cheap and will make money as it moves upward (target 51, 56, 64), or you can benefit from a deeper dip with a stronger bounce back (and sell at the top). You can also set an alarm for the dip to happen (below 34) and then buy in at the lows. But again - this is only for advanced traders and your own risk.
And very important, to be able to trade the dip and make money out of it, you need to basically observe the coin and be on the computer or close to one to be able to trade it once it happens. So if you don´t have the time to be close to computer and react, the dip strategy doesn´t work for you.
Good luck with the trade you decide for!
Comment:
34 is broken we are at 33.3, bulls holding against, indicators still say free fall to 27 could happen, very massive downtrend! need to observe closely now!
Comment:
IOTAs dip did go as deep as 32, so 13% to be made until now.
As it still seems to be slowly declining, only had short upward momentum (bounce back as expected), but it is not a clear trend reversal, I would be cautious with new trades as it still might conclude in more downwards movement. Zooming outs shows we are still in our clear downtrend and are below the former downtrendline now. I see it falling deeper and most likely conclude as it´s max low tomorrow on sunday. I will then buy back in. Day traders find beautiful waves at the moment though with up to 13%
As it still seems to be slowly declining, only had short upward momentum (bounce back as expected), but it is not a clear trend reversal, I would be cautious with new trades as it still might conclude in more downwards movement. Zooming outs shows we are still in our clear downtrend and are below the former downtrendline now. I see it falling deeper and most likely conclude as it´s max low tomorrow on sunday. I will then buy back in. Day traders find beautiful waves at the moment though with up to 13%
Comment:
Who bought in the dip I predicted was able to make 18% today. Currently an ascending triangle led to an upward trend after the bounce from the dip.