This is partly an update on my last chart.
Once again we see IOTA being dragged down by BTC, as has happened with most other alts. The 4H RSI is now at it's lowest since the first real rally, while at the same time finding support at the 0.236 fib. To me, this signals that the bottom of this downturn could be near it's end. BTC has historic support between 9.5K akd 8K, and if these supports are respected, we could see IOTA recovering, slowly, followed by some consolidation for a little while.
The real big news from the IOTA team has been lacking so far in 2018, although there are plenty of positive tidbits and signals, like new hires, collaborations and talks at conferences and meetups. The team has promised big news during Q1 2018, so the next few months could be interesting. My guess is that we will see some slow gains / sideways movement until some bigger news breaks. The new wallet that has been estimated to be released by end January / start of February could certainly help the price settle at least above $3.
Generally speaking, I see much more real life value for IOTA than for BTC, as the team is very pragmatic and work really hard on long term relationships with some of the biggest industry players (BOSCH, Fujitsu). How this translates to short to medium term price action remains to be seen.
Once again we see IOTA being dragged down by BTC, as has happened with most other alts. The 4H RSI is now at it's lowest since the first real rally, while at the same time finding support at the 0.236 fib. To me, this signals that the bottom of this downturn could be near it's end. BTC has historic support between 9.5K akd 8K, and if these supports are respected, we could see IOTA recovering, slowly, followed by some consolidation for a little while.
The real big news from the IOTA team has been lacking so far in 2018, although there are plenty of positive tidbits and signals, like new hires, collaborations and talks at conferences and meetups. The team has promised big news during Q1 2018, so the next few months could be interesting. My guess is that we will see some slow gains / sideways movement until some bigger news breaks. The new wallet that has been estimated to be released by end January / start of February could certainly help the price settle at least above $3.
Generally speaking, I see much more real life value for IOTA than for BTC, as the team is very pragmatic and work really hard on long term relationships with some of the biggest industry players (BOSCH, Fujitsu). How this translates to short to medium term price action remains to be seen.
BTC could very well see a last push down, before trying to push back up past 12K, a movement which could also affect IOTA.