According whit structure of ascending triangle Iota in the frame time 4h, breaks the resistance guideline,accompanied by volume.
Still have to be cautious and expect it to cross the resistance of 2.24 for further confirmation.
I am going to keep this short and sweet, as I believe this chart conveys what I could type out much better. As to how i found my trend lines, and created an overlay of diamond sections to isolate movement, is done by an amalgamation of a few techniques.
Simplistically, IOTA has been bearish for some time, and a breakout is on the horizon,...
IOTA is at the bottom trendline of a consolidating wedge that has been forming since it peaked on 5th December. We now have bullish divergence on RSI and MACD histogram. These are the setups I like with low risk and reward to the top of the wedge or higher if it breaks out.
IOTA was hit particularly hard in the market correction of 16-17th Jan as it was already in its natural ABC correction phase. I was lucky enough to pick some up at $2 knowing that it is due its next Wave 1 leg up afterwards. Here are my price targets based on Fib extensions.
The only warning with this is that the correction may not be over (look to BTC market...
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...
There are several promising signals for IOTA:
1) Healthy upward movement from the 0.5 fib
2) We are heading out of the Ichimoku cloud
3) The RSI is finding its balance after the last ATH, and seems to gather strength
If these signals keeps strengthening the coming days, we might soon see a new surge in IOTAs price towards the 1.618 fib around $9. Taking into...
the price returned above the resistence level 3.70 and if confirm the uptrend above the diagonal line it will start a bull trend that will touch the end of a triangle at the of January with a potential level of 5.35$ with a gain of 40%
BTC broke upwards today, but the sentiment for a big upswing seems to be lacking. Combined with a bullish long-term view for IOTA (based on the fundamentals), this could translate to IOTA/BTC finding support at .00024 or .00023 BTC.
After the dip of this week after a cumulation of fake negative news and reactions on it:
Since we saw the first raise of iota to 5$, we seen this kind of dip twice and the recover, I expect it to top at 4.85 within 24h, thats a nice 24% profit,...