Up and Down but no Breakout!
This will be a short update
Like many cryptocurrencies, IOTA has been somewhat stagnant since the 2nd week of January and refuses to make a primarily bullish or bearish move. Instead, it's stuck in a channel and is bouncing off both strong supply and demand zones between $3-$4.
While you may be tempted to play the breakout, the key to entering a position for IOTA is patience. Wait for the candles to close outside of the supply and demand zones before entering a trade, and be conscious of the momentum of the move (large candles vs. small, steep trend line, etc.) that way you can be more confident that it will not be a fakeout.
As seen above, price has touched either zone on at least 10 separate occasions
@originalworks
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The @OriginalWorks bot has determined this post by @r3negadetrader to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Your Post Has Been Featured on @Resteemable!
Feature any Steemit post using resteemit.com!
How It Works:
1. Take Any Steemit URL
2. Erase
https://3. Type
reGet Featured Instantly – Featured Posts are voted every 2.4hrs
Join the Curation Team Here
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit