IOTA been on a nice bull run these past few days, looking to break $1 and perhaps stabilize around $1.20+ in the upcoming weeks.
Analyzing chart and RSI's we see a similar pattern happened on November 10 (highlighted) during which after a nice bull run we had a minor correction and then kept rising the next day. It seems like IOTA should have a bit of a correction during the next day or so, which should serve as a nice dip to buy in at.
Other option is we break through resistance without correcting, since IOTA doesn't seem to like correcting very much, and then we'll be seeing values above a dollar in the next few days. Overall profit target around $1.30 - $1.60 - gives us a nice 2x if it happens.
After a bull run like this i would set a stoploss if the price starts dipping below 0.65 and RSI confirms down movement, as it could mean a downtrend/major correction starting.
Comentário
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Comentário
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just hit bullish confirmation, on the rise towards $1
I put in a sell order at 0.86..at what point should I take profit
deniskov
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@AzeemMajeed, around $0.7 would be a good price range to take profit and go long, just make sure there are signs of trend reversal back into bullish territory!
AzeemMajeed
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@deniskov, I've placed my take Profit @0.7 was at $0.61 prior to your advice
deniskov
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@AzeemMajeed, hey, I was just going through this post and saw your comment once again.
Did your TP at $0.70 work? seems like it would have been the absolute perfect place to close your short and go long...
AzeemMajeed
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@deniskov, where's support and resistance currently
deniskov
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@AzeemMajeed, resistance $0.9 and a strong support should be around $0.65, though i doubt we'll dip that far