This chart shows the decending trendlines which are acting as resistance at the moment. My outlook is that the market will remain brearish untill these resistance lines have been broken through... there is support at $0.90 - $0.96 from the previous lows but this support has already been tested multiple times; I beleive if the price comes back to this level again, then it will likely break below the support.
I don't own any IOTA, I just keep an eye on the price for my friends. This is not financial advise, doing your own research is encouraged :)
Any thoughts or questions feel free to comment, GLHF!
you think it will go below the support at 0.91! Why do you set a stop loss at 0.88??? that makes no sense to me?
Biffy
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@Blockshame, I dont think it is likely that the price will go below the support, I just think that it is possible due to the decending trendlines. I calculated the stop loss at $0.88 because I beleive if the price comes below this level then the next support level would be much lower on the chart (ballpark price around $0.60 - $0.72), and because it is below the support level it is lesss likely to trigger when the price is just fluctuating as usual. Again, not financial advise, I like to share my thoughts so that I can corroberate my ideas with other traders so thanks for the feedback! :)
StarBoy42
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Yeah don't like this IOTA project much.
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