- 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
IOTA / USD Short-term price analysis
In the short-term, IOTA has a bearish trading bias with the cryptocurrency trading below its 200-period moving average on the four-hour time frame.
The four-hour time frame is showing a large head and shoulders pattern, with the IOTA / USD pair recently staging a strong recovery from the neckline of the bearish...