IOTA has Broken out from Downtrend channel!
Hey, this is another Idea on IOTA.
Iota has been long time in a Downtrend channel after the breakout (115 days).
During this time, IOTA has shown us no clear Bullish divergence.
BUT 2 days ago IOTA broke out from the dowrtrend channel and can keep on growing.
Looking at the indicators.
MACD - Yes, the MACD has looked kinda bullish in this downtrend channel and you could still make about 25% each trade with the daily MACD, but it could never hold on the uptrend. This time its different because we have broken the channel and Blue line is steeply headed upwards.
RSI - In short, First time bullish after 4 months.
CCI - Shows high demand.
Hope I made your view on whats going on with IOTA somehow clearer.
If you like this TA let me know in the comments, Likes are aprreciated, Thanks!
If this gets a little bit of attention, I will update.
Iota has been long time in a Downtrend channel after the breakout (115 days).
During this time, IOTA has shown us no clear Bullish divergence.
BUT 2 days ago IOTA broke out from the dowrtrend channel and can keep on growing.
Looking at the indicators.
MACD - Yes, the MACD has looked kinda bullish in this downtrend channel and you could still make about 25% each trade with the daily MACD, but it could never hold on the uptrend. This time its different because we have broken the channel and Blue line is steeply headed upwards.
RSI - In short, First time bullish after 4 months.
CCI - Shows high demand.
Hope I made your view on whats going on with IOTA somehow clearer.
If you like this TA let me know in the comments, Likes are aprreciated, Thanks!
If this gets a little bit of attention, I will update.
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First stronger ressistance was passed, MACD looks bullish RSI bounced this can lead to strong breakout.
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Daily Indicators look even better.
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Climbing.
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Buying Volume increasing, Rsi still high.
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Solid 40%.
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Ready for another run