IOTA succesfully broke up from descending triangle pattern, which was a great entry point and has reached first resistance target at 0.62. Even though descending triangle is bearish pattern, technical analysis isn’t necessarily about the pattern itself, but also it’s about the psychology of what’s going on within the pattern. As well, when bearish patterns fail (like IOTA now), they can produce extremely quick and powerful bullish moves. The bullish momentum still looks strong and could push price higher, most probably to test ATH
IOTUSD
at $1.04. There is some resistance area at $0.74, but not so strong. Bulls could take IOTA to ATH very soon if market conditions stay positive.
IOTUSD
at $1.04. There is some resistance area at $0.74, but not so strong. Bulls could take IOTA to ATH very soon if market conditions stay positive.
Comment:
Closing on the second target. It was a nice run,time to take money of the table.