Iota long trade

312 0
After the recent ICO ban on the Chinese market, we saw a drop retracement by up to 30% in most of the major Cryptos. The most important thing to understand is that we have not changed into a bear market as of yet, since the overall crypto index shows the major currencies are still inside a bullish channel . Therefore the technicals are pointing to a retracement to find firm ground from last weeks bull rallies.

On the crypto index, IOTA was until yesterday, the one faring worst. That said I do believe we have completed a retracement here aswell with a brief wick touching the 0.236% fibo level and giving us an instant price action reversal indicating heavy buying pressure.
On the daily chart we also see that the support level at 0.54 is holding. No closed candles underneath as of yet.
As of now the growth curve in this bullish market sits on a growth curve at 18%. This has not really been confirmed, but if we do continue an upwards consolidation above this line, IOTA should be poised for some good gains in the near term.
A good entry point would thus be slightly under the support to be triggered by a wick, and the take profit in the area of our current ATH .

Personally I find this to be a very good setup as of now. risk/reward sits at 1:5.

Good luck trading folks!
ZH 繁體中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
AR العربية
HE עברית
首頁 股票篩選器 外匯篩選器 加密貨幣篩選器 全球財經日曆 如何運作 圖表功能 網站規則 版主 網站 & 經紀商解決方案 小工具 圖表庫 功能請求 部落格 & 新聞 常見問題 幫助 & 維基 推特
概述 個人資料設定 帳戶和帳單 我的客服工單 聯絡客服 發表的想法 粉絲 正在關注 私人訊息 在線聊天 登出