Iota is in a good buy set up. MACD and RSI rising on daily to a positive bullish territory.
It all depends on if we can hold our trend line which holds from November 2017 on a linear scale. (the 1 year long support on logarithmic scale was broken a day ago, but let's watch now the linear scale since it seems that IOTA follows more this type of scale since last lower high we've got on the 3rd of July 2018). Many guys are posting here that IOTA broke the support, but try to switch your scale and you will see that we have got a nice bounce and that the last lower high fits better with the linear scale.
So for me it's not a sell yet!!
Especially not with other indicators like MACD and RSI printing a bullish divergence and the daily stoch RSI having on the bottom as well.
Let's have a look how iota will behave around the 1,45$ (if we get there :-)
In case our uptrend (support) line gets broken, we can expect a quick fall into a double bottom at 0.9$. From there we could see a reverse of the trend or continuing our fall, which would be very nasty (trying to find a new bottom on the support line of the falling wedge which could go very deep and form a zig-zag ABC correction). Moreor less the further development of the price depends on the bitcoin's price anyways.
Stop loss under the local swing low ( I'll set it up at 1,111$ because it's a nice number)
It all depends on if we can hold our trend line which holds from November 2017 on a linear scale. (the 1 year long support on logarithmic scale was broken a day ago, but let's watch now the linear scale since it seems that IOTA follows more this type of scale since last lower high we've got on the 3rd of July 2018). Many guys are posting here that IOTA broke the support, but try to switch your scale and you will see that we have got a nice bounce and that the last lower high fits better with the linear scale.
So for me it's not a sell yet!!
Especially not with other indicators like MACD and RSI printing a bullish divergence and the daily stoch RSI having on the bottom as well.
Let's have a look how iota will behave around the 1,45$ (if we get there :-)
In case our uptrend (support) line gets broken, we can expect a quick fall into a double bottom at 0.9$. From there we could see a reverse of the trend or continuing our fall, which would be very nasty (trying to find a new bottom on the support line of the falling wedge which could go very deep and form a zig-zag ABC correction). Moreor less the further development of the price depends on the bitcoin's price anyways.
Stop loss under the local swing low ( I'll set it up at 1,111$ because it's a nice number)
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