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IOTUSD trade ideas

IOTA +60% RUN, OR DO WE GO FURTHER DOWN?Hello Cryptnonauts Let's take a look at IOTA! Recently we just saw IOTA Facing a new resistance Level between around 1.3275 and 1.3475. After a quick bounce away from that resistance, we are now looking forward to rechallenging this level. So, therefore, you might ask if you should go and buy a potential breakout or maybe short at the resistance? These are good questions, and I try to give you a few possible setups that might appear. Let's Take a look at the Bigger Picture first! On the 1 Hour chart, we see that we are in a significant trend facing the bottom side. So generally speaking, a movement further down might be more likely at this point. But a trend can break every time, so we are also looking at the potential longs. So let's go and cover a few potential scenarios. Scenario 1 (Short) down to the support level 1Hour Chart 5Min Chart At our Short scenario, we might move now a little bit more up until we either hit the resistance level or the red Trendline and push back from there down to our support level around 1.0400 So for potential entries, we would look at movements that are moving back to the downside from those levels. Scenario 2 (Short) down into a Sideways Market and a potential Trendline break In our second Short scenario, we are looking for a potential ending in a sideways market until we break the trend line for a bullish movement. We are looking at the same Setup as in our first Short scenario but with another target. Same Chart Setup for the Short position Facing the new build support? In this scenario, we are now looking at the new build support from the price bounce around 1.2000. That level might end up in new support since 1.2000 also is a pretty easy number to trade, and it might stick in traders' heads for potential long positions. That's why we might end up in a sideways market, which has a great potential to break the overall downtrend and end up in a bullish market. Scenario 3 (Long) Trend and Resistance level Breakout Once Again, we are looking basically at the same chart, but with two potential breakouts this time. We can either directly break entirely through the resistance and trend levels or, what I believe would be more likely, break through the first Trendline, turn the resistance into a support for a price correction and then continue to breakthrough. direct breakthrough Trend Breakthrough with a minor price correction to the past resistance that then acts as support before we entirely turn into a bullish trend. Those are the potential setups and movements I am looking into to make some trades. I hope I could give you some insights into my thoughts. Happy Trading
BITFINEX:IOTUSDLong
by qrDanielqr
4
IOTA (MIOTA) - September 15Hello? Welcome, traders. By "following", you can always get new information quickly. Please also click "Like". Have a nice day. ------------------------------------- (IOTAUSD 1W Chart) If the price is maintained above the 0.57391761-0.70752520 range, we expect the uptrend to continue. In particular, if the price is maintained above the 1.20630784-1.70386253 range, it is expected to create a new wave. (1D chart) We need to find support near the critical 1.40242016 point and see if we can continue the uptrend. If it goes down, you should check to see if it finds support at the 1.07896204-1.20630784 zone. If it falls in the range of 1.07896204-1.20630784, it may fall below the 0.79672550 point, so Stop Loss is required to preserve profit and loss. If it moves above the 2.01140741 point and breaks out of the downtrend line, the uptrend is expected to accelerate. It is important to be able to break through the resistance section formed in the 2.33397396-2.48227711 section strongly upward. ------------------------------------- (IOTABTC 1W chart) If the price maintains above the 2993 Satoshi point, it is expected to break out of the consolidation zone and turn into an uptrend. However, in order to create a new wave, the price must rise above the 6200 Satoshi point to maintain the price. (1D chart) If support is found in the 3231 Satoshi-3524 Satoshi section, the uptrend is expected to continue. If it goes down, we should see if it finds support at the 2993 Satoshi point. If it falls from the 2993 Satoshi point, a short-term Stop Loss is required. If it falls in the 1768 Satoshi-2061 Satoshi range, it may enter the mid- to long-term investment area, so careful trading is required. ------------------------------------------ We recommend that you trade with your average unit price. This is because, if the price is below your average unit price, whether the price trend is in an upward trend or a downward trend, there is a high possibility that you will not be able to get a big profit due to the psychological burden. The center of all trading starts with the average unit price at which you start trading. If you ignore this, you may be trading in the wrong direction. Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves. ------------------------------------------------------------ ------------------------------------------- ** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume. However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator. ** The MRHAB-O and MRHAB-B indicators used in the chart are indicators of our channel that have not yet been released. (Because it is not public, you can use this chart without any restrictions by sharing this chart and copying and pasting the indicators.) ** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) ** Support or resistance is based on the closing price of the 1D chart. ** All descriptions are for reference only and do not guarantee a profit or loss in investment. (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
BINANCE:IOTAUSD
by readCrypto