Long
IOSTBTC - Painting Promising Pictures
IOST is one of my more promising Gen 3 Crypto picks, with an impressive team and recent good news including token lock up (medium.com/@iostoken/iost-weekly-update-april-2nd-april-9th-74ba74d80f15), this should be a big gainer this year and beyond.
Cup And Handle, Fibonnaci - After finding a (double) bottom in the 190sat range, IOST has had a good couple of weeks, after forming a cup and hitting resistance at 520sat it has had a couple of red days forming the handle, the .786 fib is showing some support with historical support just below at 390sat, laddered buys around these areas are looking tasty.
RSI, Hidden Bullish Divergence - Price making a higher low, with RSI making a lower low gives hidden bullish divergence, right on the handle that is forming.
Cup And Handle, Fibonnaci - After finding a (double) bottom in the 190sat range, IOST has had a good couple of weeks, after forming a cup and hitting resistance at 520sat it has had a couple of red days forming the handle, the .786 fib is showing some support with historical support just below at 390sat, laddered buys around these areas are looking tasty.
RSI, Hidden Bullish Divergence - Price making a higher low, with RSI making a lower low gives hidden bullish divergence, right on the handle that is forming.
Note
IOST formed the full cup and handle and broke out, target using the cup bottom to breakout point coincides with a historical resistance at the 780/800 area, this could lead to a corrective 4th and then bullish 5th, wave 4 and 5 on this chart are placeholders for now.Note
IOST has now done 5 waves up along with a corrective ABC, it is now at a point of bullish divergence on the RSI
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.