IOST - Major Downward Trend

BINANCE:IOSTBTC   Internet of Services / Bitcoin
Note: I am not a financial advisor. These are my honest opinions about IOST.

IOST BTC keeps going down -- the chances of a full reversal / recovery are looking slimmer by the hour.

I've sold all of the IOST I had already at a small loss, I'm predicting that the price will drop by another 10% in the next 24 hours, following this bearish pitchfork channel.

As said on the chart, I wouldn't even short trade this unless every indicator you're using is strongly suggesting an opportunity.

Kommentar: Note: The ~780 satoshi level WAS the major support.
Kommentar: It nearly broke through this morning but hit the upper resistance of the pitchfork and Ichimoku Cloud, then fell down after.

Possible breakout incoming
Kommentar: If a breakout doesn't happen, there is indication of IOST stabilizing.

Forming a symmetrical triangle, RSI is indicating that IOST is slightly overbought right now so I'm projecting downward movement - but there's potential short term gain if it breaks to the upside.
Trade ist aktiv:

It appears that there has been a break through. Strong signals from the Ichimoku Cloud indicating a price increase. It broke through the cloud but is hovering at the upper pitchfork resistance.

Serious potential for a reversal on IOST BTC. Watch the 660 satoshi resistance level, it it breaks through that's a fantastic sign --- otherwise it's going to form a double top and likely crash quite a bit further.
Kommentar: it appears that 660 is the new support level, I'm expecting a trend reversal -- I think that will be all for this analysis. Due to a sudden surge in volume the price probably won't hit 550 satoshis today.
Kommentar: Strange... the price has been bouncing off of the pitchfork top level support multiple times now. It did end up hitting ~520 satoshis in two days instead of one as I predicted.
IOST is about to pop like an 11month pregnant mother!!! Elliot wave theory says that this is going to be the big one!!
It appears that the IOST team have been giving free coins by airdrop, tanking the price.
I think it’s about to pop!!!
+1 Antworten
It’s a good project. Why going down?
aezesel RajMore
@RajMore, I'm thinking the same thing. It look like there was a pump this morning but it couldn't break the cloud nor pitchfork.
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