Whats up traders, here we have IOT/BTC on the 1H chart.
Price recently retested a key support level, before bouncing off the lows. The test was successful, and price is now moving nicely to the highs.
Price is currently having a nice move away from support. I believe that price needs to have a retest before considered a integral up move.
Our target is based on analyzing previous structure highs. Our target is at the same level as previous swing high at 0.00047. This move is more than possible.
With the above in mind, I am going to wait for a successful retest on the support zone once more, before I become a buyer.
If price does not retest the support zone again, I will seek a buy if the right set up occurs. But I still believe the odds are improved on a structural retest.
I will update this analysis as the trade progresses.
If you have any questions/queries, feel free to connect.
Price recently retested a key support level, before bouncing off the lows. The test was successful, and price is now moving nicely to the highs.
Price is currently having a nice move away from support. I believe that price needs to have a retest before considered a integral up move.
Our target is based on analyzing previous structure highs. Our target is at the same level as previous swing high at 0.00047. This move is more than possible.
With the above in mind, I am going to wait for a successful retest on the support zone once more, before I become a buyer.
If price does not retest the support zone again, I will seek a buy if the right set up occurs. But I still believe the odds are improved on a structural retest.
I will update this analysis as the trade progresses.
If you have any questions/queries, feel free to connect.
