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IOTBTC

IOTA - Short Price Decline - Subsequent PumpIOT should be comfortable testing the $5.00 price line (IOTUSD) until a confirmation in either direction confirms. Currently, RSI, MACD, MAs support price decrease, and this is even further supported if the resistance at $5.00 holds up for 1-3 days longer. If we land at ~$5.25, there should be a price increase, and given the On Book Volume there would be a massive price increase if the volume begins to take off. If we stay above $5.00 but under $5.10, we should see some more flirting with the $5.00 price line and need more confirmation. Should IOT stay below the $5.00 resistance while increasing in volume, I wouldn't wait for a drop much larger than $0.25 before buying into a mid-term pump. Bollingers are showing that the current price is overvalued by almost 2 standard deviations, thus supporting at least a small price decline (1 current standard deviation = ~$1.00). Ergo, if downward movement begins, it's not unreasonable to expect a ~$1.00 price decline for a buy opportunity of ~$4.00 (depending on what the "new" Current Standard Deviation is equal to). Overall, IOT should see another massive growth pump within 10 days, but it depends on how the next couple days shake out. I'm cautiously buying IOT at it's current price, only if it drops to ~0.000282 BTC/IOT, but I'm hopefully awaiting a price adjustment(s) to ~$3.50-4.25 in order to buy more before the next takeoff (approximately 0.000262 and 0.000235 are future targets if decline is triggered). Words to the wise: BTC is in a downtrend, but it is starting to show signs of breaking back upward--and we know how quickly it goes up. Take ANY Altcoin advice you are reading with TWO grains of salt. I do not advise risking more than 5% of your BTC on IOT at the current price (because the downside risk is larger than upside), and I certainly don't advise trying to buy into Alts while BTC is low. Yes, you may come out on top of very few coins that essentially "magically" move up alongside BTC pumps, but the reality is that you are almost guaranteed to lose BTC if you buy Alts just before a BTC pump. My stop losses would be reflective of BTC price movements upward to over $17.5k if risking 5% of my BTC. Cheers, and good luck on your trades, -Jordan P.S. Please like or share if you found this analysis useful, and don't hesitate to leave me a direct message or comment on this Idea if you found it interesting, have more questions, or think this is entirely too wordy for what people are looking for--sometimes I enjoy hearing myself type more than a regular human being...
Short
by jhindman989
6
IOTA - triangles don't always have to fit on the 4 hour chart 4 hour charts are great, especially when they align with the larger time scale, which is the case here & it all ends up the same at the end of Pythagoras road. Just a reminder to step back every now and then, take a breather and look at how lucky we are to be where we are and put it all into perspective. In this case it really doesn't matter if it's 4 hours or 5 day chart the triangle crosses at the same point. Crack a beer guys, enjoy the view from above & make predictions either when multiple time scales match up or the carton is empty ;)
BITFINEX:IOTUSDLong
by angelalee82
1