IOT/BTC - Ready for 21% correction.
Aggiornato
After the positive breakout from my previous analysis (see related idea below) IOT is ready for a brief correction before continuing the bull run.
At the moment we have bearish divergence on all the indicators
1. PPO divergence
2. Stoch struggling to point upwards
3. RSI divergence
4. MACD is bearish
5. CCI divergence
A triangle structure has formed confirmed by decreasing volume.
A breakout seems imminent with strong bearish bias.
Few Fibonacci retracements that were respected before can help with entries along the way.
The first strong support is at the 0.5 retracement at 0.000082646
A short trade with TP at 21% price drop is a good target.
Trade safe.
At the moment we have bearish divergence on all the indicators
1. PPO divergence
2. Stoch struggling to point upwards
3. RSI divergence
4. MACD is bearish
5. CCI divergence
A triangle structure has formed confirmed by decreasing volume.
A breakout seems imminent with strong bearish bias.
Few Fibonacci retracements that were respected before can help with entries along the way.
The first strong support is at the 0.5 retracement at 0.000082646
A short trade with TP at 21% price drop is a good target.
Trade safe.
Trade attivo
At triangle breakoutTrade chiuso: obiettivo raggiunto
21% Profit achieved. Target Reached.
Copy automatically my trades on 1broker!
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