Looks like the handle part of the cup and handle pattern is forming on IOTA/BTC.
Entry: Once 1hr candle closes above level of cup rim on increased volume Exit: Depth of cup projected from rim upwards, apprx. 0.000396 BTC Stop Loss: Apprx. bottom of handle: 0.00025 BTC
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1 hr candle didn't broke the rim resistance line, and then dipped well below the cup bottom. Per directions we never entered this trade, no harm done :) Oh well!