IOTA Is Showing a Dangerous Pattern! Don't Ignore This SignalYello, Paradisers! Are you watching what’s forming beneath the surface of #IOTA’s slow drift? While the market sleeps on this coin, a dangerous structure is developing, and if this key support breaks, we could see a fast and painful selloff few are prepared for.
💎After months of low momentum, IOTA is now beginning to show signs of a head and shoulders pattern, a classic bearish reversal formation. This is a structure which cant be ignored, especially not at this stage of the market.
💎#IOTAUSDT neckline support lies between $0.1600 and $0.1500, a range that bulls have barely managed to defend over the past several weeks. If this zone breaks, the confirmation will be triggered and sellers will likely dominate, pushing price lower in a decisive move.
💎The first downside target sits at $0.1350, where moderate support exists. However, this level may not be strong enough to absorb selling pressure if the market sentiment remains weak.
💎If sellers manage to breach $0.1350, expect an accelerated move toward $0.1130–$0.1030. This deeper zone represents major structural support, where a stronger bullish reaction could finally take place.
Paradisers, strive for consistency, not quick profits. Treat the market as a businessman, not as a gambler.
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IOTAUSD: Analysis using Ichimoku 19/06/2020H4
At D1, the Ichimoku cloud is directing upward, indicating an uptrend. On H4, the cloud is directing downward, indicating the formation of a correction for D1.
Conclusion:
We recommend buying when the RSI reaches an oversold level on the H4 and selling when the RSI reaches the overbought.
H1
At H4, the cloud is directing downward, indicating a downtrend. At H1, the cloud is directing downward, indicating the movement within the framework of the trend for H4.
Conclusion:
We recommend buying because the price went beyond the downtrend at H4, while the RSI on the H1 has reached the level of oversold.
We also recommend selling when the RSI reaches the overbought level on the H1 and H4.
Good luck!