I still believe this is an accumulation but might take 1 year more so I updated my previous idea, I believe we are going for a spring based on wyckoff accumulation. Altcoins on USD pair should see lower lows as well:
Yellow = Buy zone
Green = Sell Targets
Red = Stop Loss
Tweezer bottoms (Green Box) - Reversal pattern
Falling wedge - Reversal pattern
Stochastic RSI low. Bull Cross
RVI - Need to break resistance to confirm continued momentum upward.
Smaller timeframes are overbought which should pull the price back within to buy range before continued upward action.
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,...
MACD and Volume also need to improve.
If finds support around .0002383 (upward trend line) and volume is good then buy signal.
Target 1: .0002788...(Sell 25%)
Target 2: .0003101...
Target 3: .0003420...(Sell 25%)
Target 4: .0003870...(Sell 25%) Leave 25% ridding for HODL fund. Good coin with strong fundamentals.
Target 5: .0004470... (All TH)
As IOT/BTC nears the end of a triangle on the 4H chart, the question is if it will brake out of the triangle or stay inside and continue upwards. Bitcoin had a nice upswing today, but it seems to have lost it's steam. Low volume and some indecision. The bigger picture from the last few weeks is that many alt-coins has surged in price, and this might continue if...
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.