IOTA was Overbought twice in a short period of time. There will be heavy volatility in the near future, and market consolidation is to be expected.
Given the current trends, I personally believe that shorting IOTA would be the best choice here. The price is nowhere near a 1/1 retracement, and is showing little signs of a reversal into a bullish trend in the (very) near future.
Also, with all the other coins I took a look at, it looks like a correction is imminent across the board. Be cautious!
I'll take a look back soon to help confirm/deconfirm what is being shown right now, but it's not looking too good.
Given the current trends, I personally believe that shorting IOTA would be the best choice here. The price is nowhere near a 1/1 retracement, and is showing little signs of a reversal into a bullish trend in the (very) near future.
Also, with all the other coins I took a look at, it looks like a correction is imminent across the board. Be cautious!
I'll take a look back soon to help confirm/deconfirm what is being shown right now, but it's not looking too good.
Trade closed: target reached
LETS GOOOOOOOOOOOOOOOOO!Closed position.
Note
We broke the triangle resistance line! Turning bullish?
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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.