IOTA is still looking bearish, on the daily timeframe since markets recent bearish impulse the market has made a correction to retest previous support as new resistance in confluence with the 0.618 fib. On the 4hr timeframe however at the moment everything is currently bullish the market is forming higher highs and higher lows during this corrective move to the upside. What we will be waiting for is a new 4hr lower low to close below this area of support then on the retest we can possibly look at capitalising on this continuation to the downside. SETUP remains invalid until we see a 4hr lower low.
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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.