IOTA trade idea for day traders.With the world's fast-growing adoption of Internet-enabled everyday products, the business-to-business market for the "Internet of Things" (IoT) is exploding. Analysts forecast that B2B spending on IoT technologies and solutions will reach $267 billion by 2020 -- and as more devices create a near-endless stream of data, the market for data-driven insights is being eyed as a catalyst for IoT growth. IOTA is the e-currency of IoT and IOTA's value will be much more than whole IoT market because it is a limited commodity.
I called for long when the IOTA price was 1.04. People who have followed my advice made decent money.
I expect IOTA price to be >100 USD by the end of 2019. For that reason I recommend to buy and hold.
But if you are a day trader there is a good trade opportunity:
We are currently at red 5 on hourly chart according to Tom Demark count. IOTA price will fall up to 4 more hours then uptrend will start again. We are currently at green 4 on daily chart and green 5 on weekly chart. Which means bull trend will continue at least 4 more weeks.
Here is my short term idea for day traders:
Long at: 4.02 (fib. 0382)
Take profit at: >5.5
Stop loss: 3.4
