IOTALong
Monthly Candle Closes... Accumulation begins.
Things played out exactly how I envisioned it.
The bulls kept us just above 2.09 to close our monthly candle.
Weekly fractal pattern has potential to draw out one more leg.
Accumulation is happening across timeframes on 1hr and 4hr at the important monthly level of 2.09 we just closed a monthly candle above. This is probably one of the most bullish signals IMO.
Which leads me to believe the expectation is we'll see a confident move up to test the next monthly level at 6.61/ATH.
Some important levels/targets to keep an eye out for....
6.61 (Monthly level of resistance/ATH)
4.52 (weekly level of resistance)
3.46 (daily level of resistance)
2.79 (weekly level of resistance)
*** 2.09 ***
(support has not been created here yet as we need to wick past the next monthly level to create support)
1.80 (weekly level of support)
1.20 (monthly level of support)
*
The bulls kept us just above 2.09 to close our monthly candle.
Weekly fractal pattern has potential to draw out one more leg.
Accumulation is happening across timeframes on 1hr and 4hr at the important monthly level of 2.09 we just closed a monthly candle above. This is probably one of the most bullish signals IMO.
Which leads me to believe the expectation is we'll see a confident move up to test the next monthly level at 6.61/ATH.
Some important levels/targets to keep an eye out for....
6.61 (Monthly level of resistance/ATH)
4.52 (weekly level of resistance)
3.46 (daily level of resistance)
2.79 (weekly level of resistance)
*** 2.09 ***
(support has not been created here yet as we need to wick past the next monthly level to create support)
1.80 (weekly level of support)
1.20 (monthly level of support)
*
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