IOTALong
IOTA - Potential Reversal or Trap?
Aggiornato
1. Using Gann Fan to identify major support/resistance area, IOTA bounced at an intersecting point indicating a strong support area
2. Bullish RSI divergence is being formed on the daily chart. Price is forming a lower high while RSI is forming a higher high
3. Symmetrical triangle is being formed indicating a breakout soon
4. Using Tom DeMark Sequential on the weekly chart, last week's candle gave us a TD Red 9, forming a TDST support at $0.93
I believe right now would be a great time to open a long position due to the reasons listed above. Stop loss would be at $0.93 where the TDST support and the Gann Fan intersecting point is also located at. Please note that the TDST support is not considered broken until the weekly candle closes below it, so beware of fake outs.
2. Bullish RSI divergence is being formed on the daily chart. Price is forming a lower high while RSI is forming a higher high
3. Symmetrical triangle is being formed indicating a breakout soon
4. Using Tom DeMark Sequential on the weekly chart, last week's candle gave us a TD Red 9, forming a TDST support at $0.93
I believe right now would be a great time to open a long position due to the reasons listed above. Stop loss would be at $0.93 where the TDST support and the Gann Fan intersecting point is also located at. Please note that the TDST support is not considered broken until the weekly candle closes below it, so beware of fake outs.
Nota
Here's IOTA/BTC chart with Gann Fan on the chart showing us that IOTA/BTC reached a support area. On top of that it bounced at 0.00013 BTC which was prior April low.
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