Long
IOST - Give me a fair shake of the sauce bottle!
Hello Traders, welcome to my analysis of IOST
After being launched on Binance in the last 30 days IOST has steadily been tracking downwards but in the past few days has found a base of support around the 400 sats mark. Although we got off to a rough start I believe this was partly due to bitcoins consolidation over the past couple of months and IOST is yet to be given a fair chance to prove itself.
I can see that for the last 10 days or so a descending wedge has been forming bouncing off support at 400, on the upside we have rejected from the 437 resistence level a few times now but overall I believe this chart is starting to look good.
A 4 HR inside bar is forming with around 1 hour until it closes, RSI is hovering around 50, MACD is tight but bullish.
Go Long on an inside bar bull break of 437 Sats, set your stop loss at 409 sats
Take 25% profit at 462
Take 50% profit at 519
Hold the rest.
A break below 400 sats will see further moves downwards.
Good luck and happy trading!
After being launched on Binance in the last 30 days IOST has steadily been tracking downwards but in the past few days has found a base of support around the 400 sats mark. Although we got off to a rough start I believe this was partly due to bitcoins consolidation over the past couple of months and IOST is yet to be given a fair chance to prove itself.
I can see that for the last 10 days or so a descending wedge has been forming bouncing off support at 400, on the upside we have rejected from the 437 resistence level a few times now but overall I believe this chart is starting to look good.
A 4 HR inside bar is forming with around 1 hour until it closes, RSI is hovering around 50, MACD is tight but bullish.
Go Long on an inside bar bull break of 437 Sats, set your stop loss at 409 sats
Take 25% profit at 462
Take 50% profit at 519
Hold the rest.
A break below 400 sats will see further moves downwards.
Good luck and happy trading!
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