Hi guys,
There is an across the board alt coin appreciation and among the many coins which benefited, one is IOT. Yesterday, it broke above resistance trend line and closed above resistance at $0.50. With a stochastics buy signal and above average volumes, IOT bulls should find this formation as a perfect opportunity to go long and aim $0.65-$0.70. We wait to see if this rally will be immune to Trump announcement of a new FED chair. Senators are leaning towards Taylor, the brains behind Taylor's Rule used by policy makers to set interest rates. Furthermore, we have the tax reforms in senate and a simple majority is needed.
Anyway, over time, we shall need to find a correlation between the USD and crypto. Data is not sufficient to muster a relationship.
for now, let me know what you think. You can checkout our analysis page at NewsBTC here: tinyurl.com/iotusdAnalysis
There is an across the board alt coin appreciation and among the many coins which benefited, one is IOT. Yesterday, it broke above resistance trend line and closed above resistance at $0.50. With a stochastics buy signal and above average volumes, IOT bulls should find this formation as a perfect opportunity to go long and aim $0.65-$0.70. We wait to see if this rally will be immune to Trump announcement of a new FED chair. Senators are leaning towards Taylor, the brains behind Taylor's Rule used by policy makers to set interest rates. Furthermore, we have the tax reforms in senate and a simple majority is needed.
Anyway, over time, we shall need to find a correlation between the USD and crypto. Data is not sufficient to muster a relationship.
for now, let me know what you think. You can checkout our analysis page at NewsBTC here: tinyurl.com/iotusdAnalysis