TL:DR - classic sell the news situation. I have no idea where we go next.
This is the Iota:USD chart with 4h candles. What a classic "Buy the rumor, sell the news" scenario. Iota plummeted 6% in about 5 minutes around the time of the release of the Qubic news. I had hoped to be at the computer watching the trading right at the announcement however family time (which is way more important anyway) made that impossible. I had set some Stop Sells to try and catch a "sell the news" situation but price just dropped too fast and only 1/6th of my order executed. I have since bought back what I sold for a very small gain.
In terms of price action We very quickly rejected the dotted red downtrend line that is 6 months in the making as well as the $2 psychological resistance. This is unfortunately quite bearish. I still have faith that as more info about Q is released we will break $2 but right now I just don't know.
Ultimately, I have no moves planned, there is no obvious price action and any move would just be a coin flip.
***This is not investing advice. I am not an investing professional. All investors should seek guidance from licensed financial advisers and not random people on the internet.***
This is the Iota:USD chart with 4h candles. What a classic "Buy the rumor, sell the news" scenario. Iota plummeted 6% in about 5 minutes around the time of the release of the Qubic news. I had hoped to be at the computer watching the trading right at the announcement however family time (which is way more important anyway) made that impossible. I had set some Stop Sells to try and catch a "sell the news" situation but price just dropped too fast and only 1/6th of my order executed. I have since bought back what I sold for a very small gain.
In terms of price action We very quickly rejected the dotted red downtrend line that is 6 months in the making as well as the $2 psychological resistance. This is unfortunately quite bearish. I still have faith that as more info about Q is released we will break $2 but right now I just don't know.
Ultimately, I have no moves planned, there is no obvious price action and any move would just be a coin flip.
***This is not investing advice. I am not an investing professional. All investors should seek guidance from licensed financial advisers and not random people on the internet.***
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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.
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.