Mostly see the triangle in the 1hour and 4h timeframe, A rising three candle formation might be forming within 2 days on the day's chart. This week has another wide range(Green lines) mean we are in a sideways trend but the bias is looking on the upside. We look at the past weeks pivot for supports and resistance. Big resistance has formed marked red from last week and from this week forecast, if we can break that then its rocket time. Bulls and bears fighting, which side would win?
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IOTA looked like it broke out of the triangle 2 days ago also almost formed a rising 3 contiunation candle on the day chart but retreated shortly after. Still the price is playing within the upper part of the range and the mid point which is a good sign as price is further constricting come the awaited announcement, the good news might be the catalyst for breakout to a new high.
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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.