MIOTA/USDT Futures (Long) - Crypto Academy / S6T2- Team Trading Contest Post for Reminane

Introduction of the token and the exchange in which I am trading

IOTA is a coin that specializes in micro-payments (small payments) and is a virtual currency (cryptocurrency) developed for the purpose of introducing it to IoT (Internet of Things).

Operation over the internet is quite expensive and requires a lot of data transmission processes. It is IOTA that simplifies these lots and pays a small amount for each lot.

And IOTA uses a new technology called "Tangle", which is a completely different payment protocol from blockchain.

Tangle is a blockchain-like technology that is based on a directional graph structure that does not circulate. In other words, it is similar to blockchain technology, but different. Tangle is a system that is not connected in strings like blockchain, so it is more efficient without being burdened.

Also, Tangle doesn't have a minor concept. For example, someone makes a new transaction. Recent transactions is a technology to approve previous transactions. It can be said that this system does not require the cost and processing speed is faster.

Who founded IOTA? This project was first founded by David Sonstebo, Dominik Schiener, Dr. Serguei Popov, and Serge Ivancheglo in 2015. And now, IOTA is managed by a non-profit company, namely the IOTA Foundation which was founded in 2019 if I'm not mistaken.

The official token from IOTA is MIOTA, this token is already listed on leading exchanges such as Binance, Poloniex, Huobi, Gate.io, Bittrex, Probit, Upbit, etc. I will be using the Binance exchange platform to trade.

Why am I optimistic about this token today

There are many advantages offered by this coin, among which are, it is a Cryptocurrency for lots, no fees, quantum computer resistance, no block size issues, etc.

In the future, as the lot field grows, IOTA may be indispensable. With all these benefits, many might consider it cheap now.

I think the fact that IOTA received an investment from Bosch is one of the events that really impresses the future of IOTA. In the future, it is expected to be used in the IoT industry, which is expected to make further progress in the future, due to the power of free fees and the power of fast transactions.

IOTA technology is said to be the basis for the development of advanced urban IoT called smart cities and autonomous driving technologies, and this alliance with Bosch is considered a stepping stone for them.

My analysis of MIOTA and Trade

As you already know, analysis has become a part of anyone who wants to invest in cryptocurrencies, and MIOTA is no exception. Now, I will use several indicators to do my analysis and see the signals generated, so that I can enter the market at the right time and place an entry.

I went back to using three indicators consisting of EMA, Aroon, and Vumanchu Chiper B. I used the 15 minute time frame on the chart for analysis, I used the 20 period on the EMA indicator, while the Aroon and Vumanchu Chiper B indicators stayed with the basic configuration.

The three indicators give the same signal, the price seems to have moved above the EMA, the Aroon-up and Aroon-dowm crossing has occurred even the value of the Aroon-up seems to have reached 100% which indicates a very strong uptrend. Vumanchu Chiper B also appears to have displayed a green dot which is a buy signal. The price has also bounced after touching the support level.

Now I will immediately enter the market placing an entry. I will be using binance futures to trade Long. I placed my entry at $0.7848 with 20x leverage. I don't set take profit or stop loss, but I trade manually.

My Plan to hold it for a long time or When to Sell?

To be honest, I rarely hold coins, but sometimes I do, I prefer to do day trading. I only hodl on coins that do have good prospects but not for a very long time. I also do this with MIOTA coins, I will sell them immediately when I get profit because this is a Long trade.

So basically, I want to sell MIOTA immediately when I can make a profit from it. Plus, this is a Long trade which requires us to stay alert because if my prediction is wrong, I can immediately close the position to minimize losses.

Do you recommend everyone to buy or not?

Of course I recommend people to buy MIOTA if they are a long term investor, because they can do hodl for a long time. I'm pretty sure with the future of MIOTA coin, I think it will be much more expensive in the next year.

Even the IOTA Foundation has partnered with several companies to develop IOTA in the future, thus making the MIOTA coin have a bright future prospect. Among its partners are:

1. InnoEnergy (Europe)
A partnership to develop a business model for the e-mobility and smart community energy market using the IOTA link.

2. Technology DXC (Europe)
A project centered on a smart factory led by Germany-partnership for the development of "Industry 4.0".

3. Botsh (A long-established shop in Germany)
Auto parts maker Bosch evaluates and invests in Tangle's future.

So, there is no harm in holding this coin, because the price may be many times the current price.

Conclusion

Once again I emphasize, the analysis that I do is purely based on the knowledge that I have. So I do not recommend the analysis that is made for use by others, you can do your analysis first before investing.

Trading risks are always there, so we must be wise in investing and perform technical analysis of the assets we want to invest. MIOTA is a cryptocurrency that is unique and different from the others, however it is a very good coin and also has bright future prospects.