IOTUSD Analysis 5-2-2018 — IOTA Breaking Out Past Local Resistance Zone
Hi all!
After consolidating between 4-24 to 5-1, IOTA is taking off again.
We're currently riding in the upper channel of the Bollinger Bands and broke the local resistance that was established around $2.20.
Notes:
- Daily RSI is bullish
- I've outlined some price levels that IOTA has reacted to in the past on multiple occasions — $1.50, $2.00, $2.10, and $2.20.
---> IOTA has broken past these levels
Conclusion:
Personally, I'm in this coin for the long term.
BUT — the next levels we should monitor are $2.60, $3.10, and ATH's (levels IOTA has reacted to in the past). If you're looking for short term profits, aim to peel off portions of your position at these levels of resistance and buy back some at lower levels.
Happy trading (y)
Hi all!
After consolidating between 4-24 to 5-1, IOTA is taking off again.
We're currently riding in the upper channel of the Bollinger Bands and broke the local resistance that was established around $2.20.
Notes:
- Daily RSI is bullish
- I've outlined some price levels that IOTA has reacted to in the past on multiple occasions — $1.50, $2.00, $2.10, and $2.20.
---> IOTA has broken past these levels
Conclusion:
Personally, I'm in this coin for the long term.
BUT — the next levels we should monitor are $2.60, $3.10, and ATH's (levels IOTA has reacted to in the past). If you're looking for short term profits, aim to peel off portions of your position at these levels of resistance and buy back some at lower levels.
Happy trading (y)
Nota
Sheesh, that was quick!!! Look at that breakout!Nota
Buy the pullback to the MA on strong breakouts. If MA of the bands fail, monitor the levels of previous action at $2.20, $2.10, $2.00 to add.
Nota
Multiple closes outside the cloud, think we're more likely to see a retest of $2.50 than a drop lower.
Nota
$$$$
Yes, fundamental news came out. BUT the technicals were primed to respond well to them, and we were prepared for it.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.