Long

IOST/BTC 4 hour equilibrium

Updated

#IOST BTC - Nice tightening 4 hour range. May take a few days to play out but if you catch it should be an easy 5-10% if it breaks bullish. The best way to play this one may be to buy at the bottom of the triangle if it gets there and you can keep a pretty tight stop from there below 189 which will be around 3-4% max. Otherwise play the breakout. E waves are tricky so keep an eye on it. Could go up from here, but the bearish divergence on the RSI says it'll retrace or at least consolidate for a bit. Not a big trade, but an easy play if the conditions permit.

Note

We ended up with a bit too much of a push at once and IOST didn't have any momentum left to really breakout. 1 hour got overbought and there was some serious bearish divergence on the 1 hour. Coming back down to the bottom of the triangle that looks more ascending now. Can definitely take a trade at the bottom here with a stop below 192. Though I'll admit there's probably better trades to be made that move a little faster than a low sat coin like IOST does. Good luck.

Note

Trade definitely didn't work out as planned. Ran out of steam and BTC dumping certainly didn't help. We'll try to nail the next one. I will keep an eye on this one and see if anything looks promising. If so I'll Make a new post and link it here as well.

Cyrnix

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.