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Iota/Bitcoin at Triangle Support

After the December pump, IOTA/BTC (or IOT/BTC) has been in consolidation as we can see on the 4H chart:

IOTA/BTC

  • 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%)

Bitcoin Could be Heading Back to 20K

Bitcoin Discussion: Risk, Diversification and Investment Period