Mega Head and Shoulder formation is going to break soon
Fundamentally the IOTA project is very well reputed in the educational sector as well as within the industry.
Technically, there are two mega head and shoulder formations - first on the monthly chart (as shown in the analysis) and second in the weekly chart that is tilted upward which indicates the mega bullish sentiment of the market participants (will add it later). There is also a potential that IOTA will follow the mega cup formation.
IOTA is going to blast like XRP very soon, it is just a matter of time. The volume increase seen in the last days was tremendous a lot of big players are accumulating.
Accumulate below 0.4. Wait for a breakout of this level and then wait for the confirmation i.e. when this level becomes support iota is going to be parabolic.
I will update this idea and put more analysis in this thread. I will also update different buy and sell levels.
Please like and follow me to keep yourself updated.
PS. This is not investment advice, please do your own research before investing and always manage your positions/losses.
Technically, there are two mega head and shoulder formations - first on the monthly chart (as shown in the analysis) and second in the weekly chart that is tilted upward which indicates the mega bullish sentiment of the market participants (will add it later). There is also a potential that IOTA will follow the mega cup formation.
IOTA is going to blast like XRP very soon, it is just a matter of time. The volume increase seen in the last days was tremendous a lot of big players are accumulating.
Accumulate below 0.4. Wait for a breakout of this level and then wait for the confirmation i.e. when this level becomes support iota is going to be parabolic.
I will update this idea and put more analysis in this thread. I will also update different buy and sell levels.
Please like and follow me to keep yourself updated.
PS. This is not investment advice, please do your own research before investing and always manage your positions/losses.
הערה
Previously I used the wrong name for the formation (silly me). Please assume it to be inverse head and shoulder as can already be seen.In a daily time frame IOTAUSDT has broken bull flag formation. I am waiting for a volume to show up. Right now what I observe in lower time frame is that the selling pressure is absorbed agressively - a precursor to volatility in market ahead. It is highly probable that IOTA will make some big moves either this month or coming. But when it starts making big moves it will be the start of a new trend.
If you are a newbie, please don't get nervous and sell due to FUD. Give some time to your investment to grow.
הערה
I am following IOTA since 2017 and I know when this giant explodes it explodes like hell it doesn't care about other things. I have seen the bull market and the bear market. The technicals the sentiments and the progress on the internet of things devices makes me believe that a new trend is going to ride this ship higher as well soon.הערה
Again inside a bull flag on a daily time frame. Price action on support, RSI on support, and OBV on support as well. All indicators are trending w.r.t price action.The resistance level of 0.3679 is getting closer and ready to be broken.
We also have strong support at 0.3048 if it dips there buy it. if this level is broken then we will head to 0.2416.
Selling targets as of today:
0.4311
0.4942
0.5574
Buying targets as of today:
0.3124
0.2794
0.2463
הערה
IOTA still inside the bull flag (daily time frame). Accumulating momentum and waiting for indicators to turn out in favor of bulls. My bias is bullish for the HTF and I don't care about the fluctuations in LTF. Other formations are already in favor of bulls just a matter of time. To be on the safe side sell a portion of your bag at 0.42 and if this level is not broken you can again buy at lower prices.
Selling targets as of today:
0.4316
0.4949
0.5582
Buying targets as of today:
0.3142
0.2804
0.2467
הערה
On 07.12.2020 IOTA has seen an unusual selloff - that selloff has resulted in distribution and is good for the overall market i.e. week hands are getting out. We can see a short-term selloff but the dips are clearly for buying. IOTA correlation with XRP is broken currently and it will eventually catch up. This time XRP is surely leading the market.BTC dominance is another factor that should be considered for confirmation for an upside movement.
Patience is always rewarded.
Selling targets as of today:
0.4234
0.4584
0.4905
Buying targets as of today:
0.3060
0.2917
0.2836
הערה
BTC ruining the party. :/All of the buying targets have been filled reducing my average buying rate. I won't sell any of my coins until March 2021. If my thesis holds true, I can see a bright light at the end of the tunnel for IOTA.
From here onwards I will double down my spot exposure to reduce my average and act as support only.
Selling targets as of today:
"Free Will"
Buying targets as of today:
0.2810
0.2650
0.2561
0.2254
הערה
All the buying targets were executed successfully except 0.2254. IOTA was able to hold the monthly support. The last month was very volatile but IOTA kept trading on the key levels. I still think the long term trend is up up up up. I will change my bias for the short term if we lose 0.2254.הערה
Well well well, the party has started. Triangle formation has broken in daily - consolidation period ended all the indicators are in favor of upside movement.הערה
Fasten your seat belts, IOTA is going to get crazy after we flip 0.3523 to support.
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