Here we have Iota/Btc on 4h charts and the bears have the upper hand for quite some time. It produced a Death Cross (marked as red) awhile ago and been on the down hill .
Everytime it tried to break above the 200 (in purple) it has failed and broke bellow the 50 (in yellow) which now serves as primary resistance.
It appears to be creating and pattern which combined with a cross on the .
The itself is displaying an pattern. All combined I believe the Bears have an hand on it and price should drop down in the near future.
On the down side we have the 61.8% Fib that could serve as the first support around 17000-18000 sat. But the could take it lowers than that, measuring the lengh of the Head.
Taking into account the increase in Bitcoin's price this scenario seems most likely unless Bulls return to Iota/USD and make a harder run than Btc one.
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Is it still over? Nothing sugests that.
Now back to work, have fun!
Bitcoin has it a resistance level, thus alt coin pairs should have a little recovery even tho Iota/USD is not really putting any high.
MACD is finally curling up.
Proceed with caution and have a nice week. Closing.