Yeah, there was a huge spike in price, but this chart looks very pretty. Bullish setup, MACD has yet to cross, not overbought, within volatility channel, perfect fib 50% retracement. What's not to like?
I am long term long, and medium term long on this coin.
NOTE: I am NOT a professional analyst of any kind.
IOTA has experienced an exponential growth over the last 72 hours based on news regarding a partnership with Microsoft. As BTC is gaining ground, RSI shows overbought market conditions. Exited the market and placed a Buy Limit at 0.0003 BTC - above 50% Fib retracement levels. On the upside a break above 0.00041 BTC could lead to an extension to 0.00051 BTC levels.
Looking to see if IOTA has found support ~$1. If so, we may see it bounce around in an ascending channel for a bit. Will be looking to see if this support line is real or not, then will be watching for a breakout. It looks like we've had some accumulation and after big news yesterday-- and a little profit taking today-- we might be poised for a rise.
Previous wave has completed and appears to have finished its correction. The first wave needs to breakout through the previous resistance from way back when at around 1.10. Wave 5 has the potential to end the mid $2s.
According to the signal RSI - the price is in the oversold zone - this is a signal to sell. According to candlestick analysis, I noticed three consecutive "hung" - this is a signal to sell. The volume of trading is also decreasing.
In recent days, the price has grown well and I think that today there will be a correction.
for sale 0.77
target 0.69 and possibly...
pattern double bottom - the figure of the trend reversal. The volume also grew. But with the purchase it is worth the wait, since the stochastic RSI shows some kind of overbought. You can buy from 0.43, stop-loss at the level of 0.407.
What I see from IOTBTC chart, that it has reached previous price corridor and now it will show itself, either up or down. By looking carefully at graph we may see head and shoulders pattern, but coin is now underrated, so we may see updates from devs soon and will get x2-x3 by end of January - February 2018. Stop-loss on 0.000070 guys. Be careful !
On the other...
