The price moves in a descending channel up and down
If the line of resistance is breached 0.00000433 BTC I expect to achieve new figures
0.00000445 BTC
0.00000485 BTC
0.00000500 BTC
The second possibility is the even bouncing price of 0.0000390 BTC
Stop loss at 0.00000380 BTC
Note: Amateur/rookie opinion.
Good long-term hold. New token.
Fundamentals:
The fundamentals are strong for IOST. Capable and professional team.
Smart contracts and DApps. Unique and scalable Proof-of-Believability mechanism.
Added note: If something as rubbish as TRON and XRP tokens (with no usable function) can reach 40c and $3.30 with a 100 billion total...
Quick TA of the falling wedge
Red boxes: failed breakouts, as indicated by shooting stars on the candlesticks.
Red lines: resistance lines formed by finding the failed breakouts.
IOST has been in a slide ever since it failed to fill in the falling wedge and seems to have found a bottom at 580 region and has broken through the downward channel with heightened volume. Keep this one on your radar as it looks to be reversed into an uptrend
Approaching final set of known lower restraints after the huge drop by IOST post listing.
Initial move up, but has since been tumbling through 5 waves followed by ABC consolidations sideways, before the trend continues.
Trend lines converging on around 626 sats, which could indicate a good buy zone with a chance of consolidation breaking the trend down. However,...
If Btc can stay healthy we should continue on our path.
Pennant coming close to an end and a positive breakout will need a kick in volume.
GLTA
Stop loss 775* Need to make sure bottoms are constantly higher
New target 975
GLTA
This is what I'm using to trade right now (Post on Twitter @CryptoYoo):
1. I believe we just completed wave 1.
2. Price will drop to 900 sat mark.
3. Fib of previous waves and this wave lines up perfectly.
4. High volume.
5. This is a risky trade. My target 1800.
IOST jsut gotr released to Binance and made a perfect elliot wave after making some correction waves it seems to have filled in a nice falling wedge. Its sticking to the higher resistance so watch out for a high volume break upwards from levels shown above to confirm possible higher highs.
IOST is forming symmetrical triangle and possible breakout could be hours away. Price around 800sth was steady for a last few days, trading volume is one of the highest and this coin could really take off now
![IOSTBTC: [IOST/BTC] x2 Potential short term.](https://s3.tradingview.com/f/Fnzh1GBm_mid.png "[IOST/BTC] x2 Potential short term.")
