If we compare the current IOTA/BTC chart to the Wyckoff accumulation scheme we can see a clear similairity. IOTA has also been one of the first coins to "moon" during the 2017 bull run and is close to its lows right now. To make this idea work we will need to see a higher volume that supports the up move. We first have to break the red resistance line around 7600 levels and after that we have to break a long term downtrend line dating back to late 2017 which is going to act as a huge resistance.
Wyckoff Scheme:
imgur.com/ywn0pw1
Wyckoff Scheme:
imgur.com/ywn0pw1