IOTA - Take some profits before it will be cut in half
IOTA had an incredible run over the last weeks. I have been aggressively buying into weakness in September and October below 0.45$.
Now it is about to reach the 3.618% Fib extension at 3.78$ and is getting overbought in the short-term.
I´d recommend to take some profits off the table and put some limit buy orders between 1,50$ and 1,90$.
As far as I can see the volatility will rise dramatically and a 50-70% pullback is getting very close...
Take some money off the table but don't short this bull-market...
Now it is about to reach the 3.618% Fib extension at 3.78$ and is getting overbought in the short-term.
I´d recommend to take some profits off the table and put some limit buy orders between 1,50$ and 1,90$.
As far as I can see the volatility will rise dramatically and a 50-70% pullback is getting very close...
Take some money off the table but don't short this bull-market...
Obviously IOTA did not stop at the 3.618% Fib extension but shot nearly 1.80$ higher during the last 12 hours... this is crazy !! Welcome to the magic of crypto :-)
Now it could be that IOTA will start its pullback from the 5.618% Fib extension at 5.69$ which it nearly reached about 1.5 hours ago...
If you are not invested stay at the sidelines. A nasty pullback is coming very soon...
If you are invested take some profits but keep your core position and prepare yourself mentally to sit through a 50-70% pullback.
Of course the limit buy orders between 1.50$ and 1.90$ have to be adjusted. I´d increase the range towards 2.00 and 2.50$ for now.