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IOTA Down Ward Wedge

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IOTA is showing some strong resistance above the $4 mark and is consolidating somewhere between 4.0-4.5, I would be weary of the bearish wedge currently seen on 30min chart as it could signal lower levels as the 4USD floor could break later today.

ノート

IOTA remains within the bounds of the wedge but it is currently breaking away from its correlation with BTC. This could signal the start of a bull run for IOTA perhaps due to crypto investors feeling burnt out on BTC and seeking something to diversify.

Watch for a break above 4.50 to confirm bull run possibly to 5 Dollars before further price consolidation.

ノート

The bullish trend within wedge confirmed. Watch for a potential reversal to 4.10> or testing the 4.5 barriers if we break out of the wedge's upper bounds.

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