Look at that beautiful chart and those beautiful fib levels ?
Definitely bullish on that one. The triangle pattern is very obvious, and IOTA has resisted very well to the market fluctuations, and has corrected nicely. It's in accumulation period, and the breakout is imminent.
I would skip selling at the first two Fibonacci targets, and sell around the third, because this looks very promising.
I know I am buying a little bit now, we can't go wrong on that one, unless some bad news is out.
Comentário
⋅
Buy : 0.0002100 - 0.00028500
Stop loss ( not needed ) : 0.000176
Sell targets : - 0.000315 ( and buy back on consolidation ) - 0.0003500 - 0.003860
Comentário
⋅
IMPORTANT : There is some FUD concerning IOTA right now. I would stay away until it clears out.
Hello. Your idea is that IOTA/BTC is bullish(and it is very promising).
I want to ask a question about the "very promising" conclusion.
My idea about IOT/BTC is that..
The price was making triangle pattern for 1 month and it is big consolidation period in cryptocurrency trading, so either bullish or bearish, something big will happen.
And there were several times that IOTA/BTC has crashed because of recent BTC/USD movement, but IOTA/BTC price came back in trading range(that triangle) after 1~2 days.
So I think it has strong support and it'll be bullish in future.
My question is.. What is your basic idea about why it should be "very promising" bullish? Is it same as mine?
Lot of it is based on what happened previously in the market. When IOTA jumped like crazy, I didn't get in, because I knew it was over hyped and was manipulated by whales because there was a trend to get noob money into coins that are below 1$ and then dump on them. So 2 scenarios were possible :
1) Pump and dump
2) Consolidation
Chart indicators have not showed any signs of pump and dumps, which leads me to believe that it is consolidating. It's still on an upward channel, so I see no reason for it to go lower. That is my opinion based on many charts I have seen in the past.
Also, as an engineer, I had the fortune to have worked in a Telecommunications company, and IOT activity was beginning to overtake cellular and network activities, and there is a real need for the market. With 5G technology coming soon, these companies will shift their work into IOT, because after 5G, we would need an emergence of a new technology for Internet/Mobile Speed which will be caped.
IOTA is the big giant in the IOT blockchain, and we know it is very popular : Look at VEN, Walton and WABI, they're gaining a lot of popularity. So it is safe to say, that IOTA will be leading this market in the short term, just like Bitcoin is doing with Digital Currencies.
CharlesPark
⋅
@PattyMcPat, I agree with your idea about IOTA future. Thank you for sharing your idea.
Zebre_Trader
⋅
@CharlesPark, My pleasure mate. Good luck with your trades !
I want to ask a question about the "very promising" conclusion.
My idea about IOT/BTC is that..
The price was making triangle pattern for 1 month and it is big consolidation period in cryptocurrency trading, so either bullish or bearish, something big will happen.
And there were several times that IOTA/BTC has crashed because of recent BTC/USD movement, but IOTA/BTC price came back in trading range(that triangle) after 1~2 days.
So I think it has strong support and it'll be bullish in future.
My question is.. What is your basic idea about why it should be "very promising" bullish? Is it same as mine?