IOTA swing tradeIOTA has given confirmation in USD pair but 50 weekly MA is acting as a resistance. Confirmation in btc pair has not been established. Waiting for confirmation.
Meanwhile look for stability in the BTC pair around this green zone. Entering on 7 Weekly EMA on USD pair is recommended. Break below 21 EMA (either USD and BTC) on weekly invalidates this setup.
IOTUSD trade ideas
#hodl Iota IOTUSD to 1$ first Take Profit.Very good news in this ecosystem, partnerships with big company's & good news revealing this next quarter. Hodl is about patience. Buying in correct places and store your tokens in safe spaces like a hardware wallet is more professional and you are gonna hodl it more time. If you like my content give this post a thumbs up.
Technical Analysis
Buy in the yellow zone for massive accumulation. 0.30 cents is a very good price.
Don´t go to daily and 4H time frame just focus on weekly & monthly charts in altcoins.
We can have a retest of the trend line.
Namaste.
4ª onda/wave?No gráfico diário do IOT identificamos a formação da quarta onda Elliott. Após o movimento dessa quarta onda, temos uma possível quinta onda que nos levará ao rompimento da atual resistência. Então ficaremos atento e caso a quarta onda se confirme (através de um suporte na região demarcada), estaremos em uma região de compras.
In the daily chart of the IOT we identified the formation of the fourth wave Elliott. After the movement of this fourth wave, we have a possible fifth wave that will lead us to the breaking of the current resistance. Then we will be attentive and if the fourth wave is confirmed (through a support in the demarcated region), we will be in a shopping region.
IOTA Price Analysis IOTA / USD: Pulling The TriggerIOTA / USD Short-term price analysis
IOTA has a bullish short-term trading bias, with the cryptocurrency advancing to a fresh 2019 trading high.
The four-hour time frame is showing an inverted head and shoulders pattern has now been triggered, with the IOTA / USD pair continuing its bullish move after testing neckline support.
Technical indicators are rising on the four-hour time frame and continuing to issue a strong bullish signal.
Pattern Watch
Traders should note that the inverted head and shoulders pattern on the four-hour time frame has yet to reach its full upside target.
Relative Strength Index
The RSI indicator on the four-hour time frame is bullish, although it is now trading in overbought conditions.
MACD Indicator
The MACD indicator on the four-hour time frame has turned bullish and continues to issue a strong buy signal.
Fundamental Analysis
IOTA has gained bullish momentum after the announcement of the Coordicide. The solution will remove the network’s centralized coordinator, and help achieve a greater level of decentralization.
IOTA / USD Medium-term price analysis
IOTA has a bullish medium-term trading outlook, with the cryptocurrency continuing to make strong gains since moving above its 200-day moving average.
The daily time frame is showing that a major bullish breakout has occurred from a sideways price channel that has been in place since the start of 2019.
Technical indicators on the daily time frame are bullish, although they are starting to appear overstretched.
IOTA / USD Daily Chart by TradingView
Pattern Watch
Traders should note that the September 22nd, 2018 swing-high is the overall upside target of the recent channel breakout on the daily time frame.
Relative Strength Index
The RSI indicator is bullish on the daily time frame and continues to highlight growing upside momentum over the medium-term.
MACD Indicator
The MACD indicator on the daily time frame is bullish, although it is starting to appear overstretched.
Fundamental Analysis
The announced Coordicide release could generate additional interest in the project. However, despite the project’s developments and partnerships, adoption still remains its main concern. Therefore, IOTA’s medium-term prospects will depend on its ability to find partners that will drive the adoption of its platform.
Conclusion
Further upside in the cryptocurrency is still expected over both time frames, with the bullish pattern on the four-hour time frame yet to reach its upside target.
Overall, the recent bullish channel breakout on the daily time frame has changed the technical picture for the IOTA / USD pair over the medium-term, with the balance of risk now firmly tilted to the upside.