With positive news IOTA was able to step out of the shadow and rise upon the top 5 crypto coins by market cap.
Comment:
Where will wave 5 bounce off?
Wave 2 and 4 never bounces at the same price. As we see wave 2 bounced off at fib level 0.236.
Wave 4 passed already fib level 0.618 and went to bounce off at fib 0.5, did we see already the reversal and are at the beginning of wave 5?
MACD didn't crossover nor is RSI showing an uptrend. (Compare the former trend reversal with MACD crossover and RSI movement, you will see a correlation).
After looking at the indicator I think we will se a reversal around fib 0.382, due to MACD and RSI comportment. Plus we can add that a small consolidation formed at fib 0.382 after starting wave 3, this indicates a possible support zone.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Wave 2 and 4 never bounces at the same price. As we see wave 2 bounced off at fib level 0.236.
Wave 4 passed already fib level 0.618 and went to bounce off at fib 0.5, did we see already the reversal and are at the beginning of wave 5?
MACD didn't crossover nor is RSI showing an uptrend. (Compare the former trend reversal with MACD crossover and RSI movement, you will see a correlation).
After looking at the indicator I think we will se a reversal around fib 0.382, due to MACD and RSI comportment. Plus we can add that a small consolidation formed at fib 0.382 after starting wave 3, this indicates a possible support zone.