BITFINEX: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.
Comment
⋅
The short trade is canceled but the consolidation continues. I'm now direction neutral for a breakout to the upside if it occurs.
Trade active
⋅
The breakout of the squeeze occurred to the upside. Playing it out.