Since inception Iota has suffered a steady decline forming a huge triangle. Now there is some upside potential:
Hidden bullish divergence has start to show and the decline of volume is easing.
If breakout happens above the trendline the upside potential is quite significant up to 190% if volume keeps pace with the increase in price.
If breakout below the triangle further significant downside can be expected.
In order to minimize risk tight stop losses at entry and on the way are a must.
Enter if there is a solid breakout on top of the trendline CONFIRMED by strong Volume uptick.
Entry: at triangle brekout (around 0.38160)
TP: 1.11986 (190%)
(to be reassessed as the pattern develops, target possible)
SL : 0.33367 (-13%)
Trade safe.
Hidden bullish divergence has start to show and the decline of volume is easing.
If breakout happens above the trendline the upside potential is quite significant up to 190% if volume keeps pace with the increase in price.
If breakout below the triangle further significant downside can be expected.
In order to minimize risk tight stop losses at entry and on the way are a must.
Enter if there is a solid breakout on top of the trendline CONFIRMED by strong Volume uptick.
Entry: at triangle brekout (around 0.38160)
TP: 1.11986 (190%)
(to be reassessed as the pattern develops, target possible)
SL : 0.33367 (-13%)
Trade safe.
Comment:
Trendline broke,upside momentum confirmed
Trade closed: target reached:
OVER 300% Congratulations to everyone that has read this analysys
Copy automatically my trades on 1broker!
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