IOTA, IOTABTC - Looking Quite Bullish
IOTA, IOTABTC a popular top 10 coin and has had a huge run-up last year so let's see how it's doing at the moment.
Analyses
- After a good consolidation and retracing all the way back to the .618 - .65 fib area. This is a good area for support and some buying action.
- IOTABTC did manage to break out of the fallen wedge pattern rather forcefully.
The spike was not only lead by the overall market sentiment but also due to some great partnerships announcements such as with the United Nations, Richard Soley and DNB ASA in Norway. This could drive the price up more in the coming days/weeks.
- A big and forceful spike is very indicative for a wave 3 so if that's the case then we're in an (impulsive) wave 3 of a bigger degree wave 5 at the moment as outlined in the chart.
- And if we look at the bigger picture, IOTABTC is looking to make a (big) cup & handle pattern so look for a break out of this pattern as well.
So there you have it, a brief perspective for IOTABTC. Leave a comment if you have any questions.
Like the post, if you liked it and share it if you loved it. This is for good karma.
And until next time, good luck with your trading!
Disclaimer
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
Analyses
- After a good consolidation and retracing all the way back to the .618 - .65 fib area. This is a good area for support and some buying action.
- IOTABTC did manage to break out of the fallen wedge pattern rather forcefully.
The spike was not only lead by the overall market sentiment but also due to some great partnerships announcements such as with the United Nations, Richard Soley and DNB ASA in Norway. This could drive the price up more in the coming days/weeks.
- A big and forceful spike is very indicative for a wave 3 so if that's the case then we're in an (impulsive) wave 3 of a bigger degree wave 5 at the moment as outlined in the chart.
- And if we look at the bigger picture, IOTABTC is looking to make a (big) cup & handle pattern so look for a break out of this pattern as well.
So there you have it, a brief perspective for IOTABTC. Leave a comment if you have any questions.
Like the post, if you liked it and share it if you loved it. This is for good karma.
And until next time, good luck with your trading!
Disclaimer
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
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