IOTAETH - Support, Resistance and TPThe price came out of the area of the dynamic resistance line, which is 4 years old, which may mean a new trend - up.
Chart show's the key points and profit zone.
Profit is huge -1450%.
Enough to make you rich.
It's worth a try.
IOTETH
IOT/ETH Falling Wedge PatternChart shows the possibility of the falling wedge pattern and the targets.
IOTA / ETH - Falling wedge patternIf the long term pattern is true then amazing 1110% is the target.
#IOTA $IOTA #MIOTA - The Market CycleI'm now looking for the 4th wave to complete on HTF support, which will then lead us into a very violent and explosive 5th wave. Look at Oct 2017 > December 2017 as an example.
The times/dates of price forecast are only for illustration purposes.
I believe this will be the 'minimum' target to chase within this Bull Market Cycle.
I'm long. Average re-entry of 0.65c.
IOTA - Hopium, Hopium, and Hopium...IOTA is looking slightly bullish on the daily timeframe as it is about to break out of the triangle. Not to mention, bulls did an amazing job defending the daily MACD cross right at the zero mark.
On the weekly timeframe, we can see the RSI making a potential inverse head and shoulders pattern. Similar to every inverse head and shoulders pattern, we must wait for the break of neckline resistance as confirmation.
Using a variety of synthetic currency pairs, we can compare the strength/weakness between IOTA and other cryptocurrencies. In this example, we will use synthetic pair IOTUSD/NEOUSD which simplifies into IOT/NEO.
There's a very visible bearish divergence in MACD, RSI, and Stochastic. There's a possibility that money from algo traders that are trading synthetic currency pairs may go into IOTA due to its temporary weakness against other cryptocurrencies. But keep in mind, this is simply a method to compare the strength/weakness between two highly correlated asset. USD value of IOTA does not necessarily have to go up in order for IOT/NEO to go down.
Using IOT/ETH pairing, we could see that we're approaching a long term support trendline with a double bottom starting to form. This further supports my point in IOT/NEO: IOTA should theoretically gain strength compared to other cryptocurrencies in the coming days or weeks.
Just like every single double bottom, a retest of the neckline is necessary. The neckline support must hold or else it would indicate that IOTA is still too weak.
Feel free to share your long-term bearish ideas, it's always good to know both sides.
There is possibility for the beginning of uptrend in IOTETHTechnical analysis:
. IOTA/ETHEREUM is in range bound and beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 38.
Trading suggestion:
There is a possibility of temporary retracement to suggested support zone (0.0018 to 0.0015). if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
. Beginning of entry zone (0.0018)
. Ending of entry zone (0.0015)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.0023
TP2= @ 0.0028
TP3= @ 0.0034
TP4= @ 0.0043
TP5= @ 0.0057
TP6= @ 0.0074
TP7= @ 0.0134
TP8= Free
There is possibility for the beginning of uptrend in IOTETHTechnical analysis:
. IOTA/ETHEREUM is in range bound and beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 38.
Trading suggestion:
There is a possibility of temporary retracement to suggested support zone (0.0018 to 0.0015). if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
. Beginning of entry zone (0.0018)
. Ending of entry zone (0.0015)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.0023
TP2= @ 0.0028
TP3= @ 0.0034
TP4= @ 0.0043
TP5= @ 0.0057
TP6= @ 0.0074
TP7= @ 0.0134
TP8= Free
How I'm trading the IOTA TriangleThe waves are perfectly hitting the fibs. Never seen a trade setup more clearly.
Bullish Pennant Primes IOTA for epic runIOTA has seen a lot of activity in the last week priming it for a bull run. This bull run will also coincide with the likely news of additions to multiple exchanges(Binance all but confirmed, Bittrex/Shapeshift hopeful). If this news isn't released near bull call, it could take a couple more days and in that time period I expect more consolidation. Dumps result in a near immediate recovery with this coin as the support is extremely strong despite its relatively low volume.
IOTA is available as IOT on Bitfinex.
Full disclosure: I hold IOTA in my portfolio.
