Welcome to a small market-Update all-round IOTA. We keep it short today and just because this is the IOTA course analysis, we want to take a quick look at the current Situation in the market and look at how it is currently ordered in the IoT Coin.
The upward movement for the IOTA course already has come to an end before it has even started properly?
We strive, as always, is to find for you the right answers.
Please note: None of this articles listed is to Formulate in any way the trading recommendations. This and the following article are solely for the exchange of information with our readership. Neither crypto Monday nor the author of this text shall be liable for any loss incurred as a result of the trading decisions of our readers. DYOR!
IOTA course is on wobbly legs
The IOTA course has once again done exactly what we expected of him and did not ask for a long time.
In my last IOTA of the course analysis I have predicted that we will have a bullish breakout from the 6th to the. and 16.1.2020 target of approximately $ 0.20 will experience with a price. The IOTA course couldn’t wait apparently, and is directly broken out on 6.1.2020 from the ascending triangle and was listed briefly with a price of just over $ 0.20. Who’s got positioned here so its Take Profit correctly, could benefit within a week, after all, a rate increase of around 25%.
In the course of his rapid rise is not the IOTA course, however, to close above the 50 MA line on the daily Chart. Even more so, because in the course of which has formed an inverted Hammer Candlestick, which is in theory a lot of bids due soon character and already in the end of the short-term upward trend could mean.
Now the question is whether the current support line may be just over 0.17 USD sufficiently strong Support to be able to the 50-MA line break turns. Should this not be the case, then, the IOTA course with security relatively quickly back in the direction of $ 0.15 and, thus, a further 15% to the current price level need to lose.
The MACD line is signaled as a short-term upward trend, so the hope is not yet lost. Very likely, the outcome of this Situation is solely of the Bitcoin exchange rate and its Performance in the next couple of days depending on. The signs are, however, currently rather bearish.
To open In this Situation, a new Position, is likely to be extremely risky. Here, it is necessary to observe first the Situation and wait to see how the market develops in the next few days.
Read also: Is the BTC course on the verge of a Pump to$ 10,000 or higher? The correlation between the Gold and Bitcoin price
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