IOST is experiencing strong bearish pressure today. A lot of cryptos are seeing good returns, but IOST is severely lagging behind the rest. In case we will experience a strong sell-off again in the near future, this trade will act on the potential rebound resulting from said sell-off.
Before entering this trade wait for the price to touch the Entry line.
On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs/lows and round numbers. Do your own due diligence.
Hi Fiery, Can you gives an update on IOST. Looks like a lot of things happened in the last 4 days since you wrote about IOST. Be well.
FieryTrading
⋅
@Tapita, Hey friend, the trade is still going. Entry got hit with BTC's fall, trade was close to the SL but reversed sharply. R1 has been hit, now hoping that bullish pressure will remain and hit R2 soon.
Tapita
⋅
@FieryTrading, fine, thanks. So, I trust we hit R2 this week and we hear from you soon.
Vashary
⋅
Don’t agree. The most Coins were bleeding as IOST. So everything depends on BTC for IOST. btw. There were just a FEW coins which held the line during the BTC Dump. One of them was Harmony One.
FieryTrading
⋅
@Vashary, Yesterday a lot of coins were following BTC and bleeding, but IOST had a -16% whilst others had a -10% at maximum. On the other hand, half of Binance's tickers were green at the time of writing this post. Be aware that this post was written early in the morning, hours before the second sell-off of BTC this week.
This trade is based on the idea that IOST was therefore seeing more bearish pressure compared to the rest, which could've potentially triggered the entry if BTC were to drop towards the 40k level or so.
caldooninvestment
⋅
Totally agree 💯
BigLava
⋅
Nice setup bro
ProjectSyndicate
⋅
excellent risk:reward in this trade, added to my watch list already.