IOTA / BitcoinUpdated IOTBTC on a roll
Seems like IOTA has a high correlation to BTCUSD. I think because, fundamentally, it's a Bitcoin competitor from a thousand miles away.
Looking at the charts, we're nearing a supply zone. When you look to the left side, profit taking happened. Be careful when the price reaches that zone as profit taking could definitely happen.
I suggest waiting for the price to reach the zones indicated in the chart before deciding to buy or sell. Buy when it surpasses that area. Sell when signs of profit taking is significantly visible. Then, the cup and handle formation could happen. (See the related idea below for the cup&handle idea)
Looking at the charts, we're nearing a supply zone. When you look to the left side, profit taking happened. Be careful when the price reaches that zone as profit taking could definitely happen.
I suggest waiting for the price to reach the zones indicated in the chart before deciding to buy or sell. Buy when it surpasses that area. Sell when signs of profit taking is significantly visible. Then, the cup and handle formation could happen. (See the related idea below for the cup&handle idea)
Note
I don't like how the last 3 candlesticks look like. I also got solid confirmation from both Godmode and Stoch RSI that IOTA is going down soon. We're just a hair breadth away from $1Note
this chart looks tasty but Bitcoin is going down. Let's see how this turns out
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.