Iotabtc
IOTABTC [Daily] 8000 as key level for bulls... Looking to sellAs you can see on the chart we are right above 8000. Levels is wirking as support for now.
As long as bulls stay above there is a chance for rally towards 11000 or even 13000.
Overall we are still in a bear market so I would rather wait fro breakdown and close below 8000.
First target is at 6000.
Break and close below that level may indicate that latest consolidation within 11000-6000 and market is ready to fall towards 1000.
There is a trading opportunity to buy in IOTABTCTechnical analysis:
. MIOTA/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 73.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.0000750 to 0.00006200). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.0000750)
Ending of entry zone (0.00006200)
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 the 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= @ 0.00009380
TP2= @ 0.00011050
TP3= @ 0.00012950
TP4= @ 0.00014060
TP5= @ 0.00016480
TP6= @ 0.00018910
TP7= @ 0.00026760
TP8= @ 0.00031200
TP9= Free
IOTA Full Setup Next Target 61% !!IOTA on the Bottom Areas if You thinking to Take Position in IOTA then Given Below Some Levels,
Long - 7700 Target Will be First Target 8200 & second 11000.
if IOTA Cross The Resistance 8200 then You Can Long on the Support 8200 to Next Resistance Level 11000.
I hope that Price can fly From Buying zone.
Share Your Opinion in Comments.
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Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
Bullish Butterfly on IotaAlmost a perfect bullish butterfly on Iota, which means this can be a perfect oppoutunity to buy.
However Bulkowski says "...this pattern has such a high failure rate (14% as measured from the low at D)"
A good idea could be to wait and get in when there is upward movement from D.
Three setups as the price around 0.00057 is fibonacci level at 1.27 (0.000585)
Also Weekly MACD is almost about to cross (see in update)