Largo

IOTA - BTC Futures FUD is Over, To Infinity and Beyond!

Actualizado

The amount of novice trader panic buying at the all time high indicates a very strong resistance point at $5.5 as everyone is trapped there. A second resistance point is at $5.15 when we failed to break it on 12/6 and 12/8. A third resistance point is at $4.45 where we have successful passed and broke out on 12/7, but failed to breakout on 12/10. As of now we're looking to retest $4.45 again, if we managed to breakout, it is a very bullish signal. We're very likely to go all the way back to $5.15 before bouncing back down.

We have 2 support. A weaker support at $3.75 as seen on 12/8 and 12/10. A super major support at $3.5 as seen on 12/8 and 12/9. We have managed to stay above $3.5 despite all the BTC FUD indicates that $3.5 is a very solid support. If $3.5 support breaks, we're looking to sell everything immediately.

Trade Setup:
- Stop Loss at somewhere around $3.5
- Sell 30% IOTA at $5.15 to secure profit in case we can't break through $5.15 resistance.
- If we manage to break out of $5.5, there's nothing that can stop us. Sell 70% at $5.9

Nota

We have broke through the $4.45 resistance. We're looking to go all the way up to $5.15 before the second resistance point.

Nota

We failed to break through $4.45 resistance. We're very likely to go down. We'll wait for the second 1h candle to confirm the signal.

Nota

As of now, Stoch, MACD, and CCI is showing a huge buying momentum. We might be retesting $4.45 again. Hopefully we break that before tomorrow morning.

Nota

Good morning, It seems that no much had happened over night, but the gap between the bottom and $4.45 resistance is getting smaller and smaller. It seems that IOTA id hsving a rough time breaking through this resistance. We failed twice yesterday, let's see what will happen today.

Nota

$4.45 resistance is quite strong, we've tried a total of 3 times as of now. I'm predicting a breakout by midnight. Boillinger Band is getting narrower indicates either a significant advance or decline in the future.

Nota

So far so good. Let's play a little game predicting when the breakout occurs.

MACD, CCI, and Stoch indicating a good and strong buying momentum from the market.

New Trade Setup:
Stop Loss: $4
Take Profit #1: $4.9 (20%)
Take Profit #2: $5.1 (20%)
Take Profit #3: $5.9 (60%)

Nota

Bounced above the trend line as expected. If we have enough volume, expect a breakout before the end of tomorrow tonight.

Please remember, a Bollinger Band Squeeze indicates both a huge INCREASE or DECREASE. If we do fall below the trend line, we will no longer be going long but instead shorting it. If that happens, I'll make a new post with a new setup.

Good luck to all and good night.

Nota

Sooner than I've expected, we broke through $4.45 resistance. Waiting for second 30 min candle for confirmation.

Nota

Breakout confirmed! We have a significant amount of increase in volume. Strong buying momentum on CCI, MACD, and Stoch.

Nota

First Target of $4.9 reached. Trust me, don't be greedy. Secure that profit first.

Nota

It is very unlikely that we fall below $4.45 again after the breakout, so feel free to increase your position from the $4.9 trade we've profited from. I'm looking for $5.2 and above by morning. If the trend breaks, we will short it.

Nota

We are running low on volume due to LTC fomo. It'll be interesting to see what would happen when LTC pump is over. Overall, we are still in a safe spot.

New Stop Loss: $4.39

If we break below $4.45 it's game over. we will stop going long and proceed to short it when that happens.

Nota

We bounced off of $4.5 support. Most likely going back up, waiting for second 1h candle for confirmation. We should be able to reach our second target by tonight.

Operación cerrada manualmente

Stop loss of $4.39 reached. We will wait to reach re enter once we see momentum.

Operación activa

re enter. 2nd 1h candle shows a bounce back up from our support at $4.45

Very sorry for the late update, I had no wifi

ErnestEA

Exención de responsabilidad

La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.