IOT starting to squeeze

Nov 14, 2020

IOTUSD really failed to capture any of the bullish momentum of the last week. It was a definite underperformer among the highest volume cryptocurrencies. This morning triggered a signal that the volatility has slowly decreased into a wedge with a potential bearish breakout setup. Because this was the lagger of the recent momentum I'd say this is one of the weaker cryptocurrencies and an increased probability for a short.

Nov 17, 2020

Note

The short trade is canceled but the consolidation continues. I'm now direction neutral for a breakout to the upside if it occurs.

Nov 18, 2020

Trade active

The breakout of the squeeze occurred to the upside. Playing it out.