IOTA had a sensational rally and is now consolidating in a simmetrical triangle pattern.
Historically IOTA had a correlation to BTC price movements against USD. If it still hold true and Bitcoin starts a correction IOT/BTC will follow.
Bullish Scenario
If we break to the upside a top of +40% from the breakout could be possible.
Take profit along the way in order to manage risks at +25% at the 0.382 fibonacci retracement.
Bearish Scenario
The ichimoku TK bearish recross is showing us that the bearish momentum still valid and a tendency for the price to fall more is quite likely.
If we break on the downside we find support at the 1515 mark at a -32% from the breakout.
Always wait for confirmation as this is a very volatile period with traditional market players (eg CME) entering the space.
Trade safe.
If this trade made you some money. Tips are welcome.
BTC: 372Yed5cnXoHN14a8sdwho7L5uYRxjYQYK
Historically IOTA had a correlation to BTC price movements against USD. If it still hold true and Bitcoin starts a correction IOT/BTC will follow.
Bullish Scenario
If we break to the upside a top of +40% from the breakout could be possible.
Take profit along the way in order to manage risks at +25% at the 0.382 fibonacci retracement.
Bearish Scenario
The ichimoku TK bearish recross is showing us that the bearish momentum still valid and a tendency for the price to fall more is quite likely.
If we break on the downside we find support at the 1515 mark at a -32% from the breakout.
Always wait for confirmation as this is a very volatile period with traditional market players (eg CME) entering the space.
Trade safe.
If this trade made you some money. Tips are welcome.
BTC: 372Yed5cnXoHN14a8sdwho7L5uYRxjYQYK
İşlem aktif
Entered at the breakout as per the analysis.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.