After a strong bull move since 4th jan the IOTABTC was moving in a pennant and likely to going through a correction rally which seems to be getting finished now.
We can see on daily chart the price action hits the 100MA and pivot 1st support moreover we have a 200MA beneath 100MA playing a very srtong support role here.
RSI oversold condition is also very importance factor here indicating to bullish divergence soon insa Allah.
The volume profile's fixed range is showing trader's less interest in this area and price line is also quite low below the POC of volume profile.
I am expecting a massive breakout from here soon insha Allah.
I have defined the targets on chart accordingly plz find.
Regards,
Atif Akbar (moon333)
We can see on daily chart the price action hits the 100MA and pivot 1st support moreover we have a 200MA beneath 100MA playing a very srtong support role here.
RSI oversold condition is also very importance factor here indicating to bullish divergence soon insa Allah.
The volume profile's fixed range is showing trader's less interest in this area and price line is also quite low below the POC of volume profile.
I am expecting a massive breakout from here soon insha Allah.
I have defined the targets on chart accordingly plz find.
Regards,
Atif Akbar (moon333)
Trade closed: target reached
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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.