IOTA broke the two key resistance EMA50D and MA200D with a huge buy volume three weeks ago. Prices have been consolidating above these levels.
A relative big buy pressure would make the EMA50D crosses the MA200D and then trigger a rally.
My plan is simple:
- Entry: Buy IOTA at this price $0.28 and DCA to $0.24 if price goes there.
- Take-profit: Mid-term targets are in charts. If you believe in the fundamental (IOTA 2.0 for parallel validation of transactions will be released soon), the long-term target is very possible.
- Invalidation: 1W candle closing below the EMA50D
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
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IOTA starts moving
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Finally, I were watching this pattern (see screenshot below), IOTA has just broken the trendline and would continue to go up. Short-term targets are blue lines in the following screenshot.
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IOTA has a good momentum, let's see which target will be reached
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This swing trade would take weeks to see big move:
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EMA is holding price after a huge sell off today. Spot buy is still runing.
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Trade is still active
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Trade closed (see my latest post of BTC, it's weak)