After the December pump, IOTA/BTC (or IOT/BTC) has been in consolidation as we can see on the 4H chart:
- From the 4H chart, we can see that price has bounced from triangle support to resistance and back.
- It is at triangle support at the moment.
- If IOTA can bounce up and break above 0.0002810 BTCs, then we should pressure on the triangle resistance and a likely bullish breakout.
- 0.0002600 is also critical.
- However, if price digs below 0.0002600, we might see a slide towards a more common price area around 0.0002250.
- A stronger bearish outlook has the 0.0002000 insight, but we should limit even the most aggressive outlook to 0.0001800 for now.
Trade Idea with Reward to Risk:
- Buy Entry @ 0.0002650
- Stop @ 0.0002480 (-6.52%)
- Target 1 @ 0.0002980 (+24.45%)
- Target 2 @ 0.0003375 (+27.36%)
- Target 3 @ 0.0004400 (+66.04%)