. There is a possibility of temporary retracement to suggested support line (1.401). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. IOTAUSDT is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support....
- IOTA/USDT after a good rally, now at the top its forming Head & Shoulder pattern.
- This kind of pattern is normally formed on the TOP of the market after a rally.
- Wait for the Price Action when it touches the NeckLine of the pattern.
- Breakdown with volume will confirm that the down move or correction started.
Target for downside = Height of Head