Price in Iota has been moving into a rising channel finding very good support at its lower parallel. We previously saw a bounce once again from the lower parallel at a level where we additionally have the 0.618 fib level of the previous upmove. In case price retests the lower parallel of the channel I am going long with entry, stop-loss and take profit target as shown in the chart.
I would be interested to see if iota comes down to 2.5 again. If we look at the EOS and ZEC charts it looks like this is similar but in an much shorter time scale. I feel it's a good buy but not until it finds a solid support...
ygreq
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@RJHumphries, I heard people say that Iota owners are blocked into their wallets, not being able to put their coins on exchanges. Once they get into the market who knows what will happen.
JRFreeze
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@ygreq, I'd imagine if the market flooded the price would crash, especially if those folk bringing them to exchange were keen to get rid of a pesky coin. What'd you reckon??
ygreq
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@RJHumphries, Hopefully not as I invested a bit. But hey! It could happen. :)
ygreq
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You do know IOTA has such a great market cap based on its number of coins, not its actual value. And there are quite a lot out in the open.
I like your idea. However - it will be interesting to see IOTA is effected by the (anticipated) BTC correction. So for the next 12h, i support your theory.