Hello Everyone,
I would like to share with you my idea regarding IOTA/USD. This is not a trade advice.
Since December 2017 IOTA/USD is following a steady downtrend that is easily seen on RSI (14) as wedge with upper boundary of A-C and lower boundary of K-L-M
- 06/Dec/2017 (point A) IOTA made an intraday all-time-high that is also RSI all-time-high
- 19/Dec/2017 (point B) price of IOTA was very high, but failed to make a new intraday all-time-high and RSI value was much lower. That was a start of trend reversal to the downside
- 05/Feb/2018 (point K) new RSI lowest low after rally in December 2017
- 15/Mar/2018 (point L) new RSI lowest low after rally in December 2017. Trendline K-L is established as the RSI resistance
- 24/Apr/2018 (point C) after a solid price incline on RSI there is a new high after rally in December 2017. Trendline A-C is established as the RSI resistance
- 03/May/2018 (point D) even though price of IOTA increased event further than in previous week, on RSI there was a high that fails to break (or even test trendline A-C)
- 22/Jun/2018 (point M) RSI tests trendline K-L, but fails to break and new RSI lowest low since rally in December 2017 is made. Trendline K-L-M is confirmed as resistance on RSI
MACD (12,26,9) indicator gives some hope
- 09/Feb/2018 (point 1) there was a crossover on MACD that was a 52-Week-lowest low on this chart (or even all-time-low?) giving a very significant point - corresponding with price low of 05/Feb/2018 (signal was 4 days late due to slow 12,26,9 MACD)
- 19/Mar/2018 (point 2) there was another crossover on MACD - also significant as second most significant low since December 2017 - corresponding with price low of 15/Mar/2018 (signal was 4 days late due to slow 12,26,9 MACD) - Trendline 1-2 is established
- 07/Apr/2018 MACD lines crossed-over and formed a new MACD low (point 3) that was not as low as point 2 showing a sign of strength - good buy signal
- On 11/Apr/2018 trenline 1-2 was crossed by fast MACD line and started a wonderful break out from ~1,02/1,05 (11/Apr/2018) to ~2,34 intaday high in point C (24/Apr/2018) and later ~2,82 in point D (03/May/2018) - trendline 1-2 becomes a resistance, but was never tested.
This was possible as 1-2-3 were three consecutive MACD lows, each higher than previous one.
- 29/Jun/2018 (point 4) new MACD low is established - corresponding with price low of 22/Jun/2018 (signal was 7 days late due to slow 12,26,9 MACD) - this point however is not as significant as point 2 (is higher and not consecutive). Trendline 1-4 is established.
It is worth observing what will happen as both MACD lines will cross trendline 1-4 from above. If new MACD low (point 5, not marked on chart) will be highr than point 4, there can be a break out and strong movement to the upside. However, if point 5 is lower than point 4 it may mean that trendline 1-4 is not holding and IOTA may follow downtrend as RSI primary trendlines are indicating.
Ziza23456
I would like to share with you my idea regarding IOTA/USD. This is not a trade advice.
Since December 2017 IOTA/USD is following a steady downtrend that is easily seen on RSI (14) as wedge with upper boundary of A-C and lower boundary of K-L-M
- 06/Dec/2017 (point A) IOTA made an intraday all-time-high that is also RSI all-time-high
- 19/Dec/2017 (point B) price of IOTA was very high, but failed to make a new intraday all-time-high and RSI value was much lower. That was a start of trend reversal to the downside
- 05/Feb/2018 (point K) new RSI lowest low after rally in December 2017
- 15/Mar/2018 (point L) new RSI lowest low after rally in December 2017. Trendline K-L is established as the RSI resistance
- 24/Apr/2018 (point C) after a solid price incline on RSI there is a new high after rally in December 2017. Trendline A-C is established as the RSI resistance
- 03/May/2018 (point D) even though price of IOTA increased event further than in previous week, on RSI there was a high that fails to break (or even test trendline A-C)
- 22/Jun/2018 (point M) RSI tests trendline K-L, but fails to break and new RSI lowest low since rally in December 2017 is made. Trendline K-L-M is confirmed as resistance on RSI
MACD (12,26,9) indicator gives some hope
- 09/Feb/2018 (point 1) there was a crossover on MACD that was a 52-Week-lowest low on this chart (or even all-time-low?) giving a very significant point - corresponding with price low of 05/Feb/2018 (signal was 4 days late due to slow 12,26,9 MACD)
- 19/Mar/2018 (point 2) there was another crossover on MACD - also significant as second most significant low since December 2017 - corresponding with price low of 15/Mar/2018 (signal was 4 days late due to slow 12,26,9 MACD) - Trendline 1-2 is established
- 07/Apr/2018 MACD lines crossed-over and formed a new MACD low (point 3) that was not as low as point 2 showing a sign of strength - good buy signal
- On 11/Apr/2018 trenline 1-2 was crossed by fast MACD line and started a wonderful break out from ~1,02/1,05 (11/Apr/2018) to ~2,34 intaday high in point C (24/Apr/2018) and later ~2,82 in point D (03/May/2018) - trendline 1-2 becomes a resistance, but was never tested.
This was possible as 1-2-3 were three consecutive MACD lows, each higher than previous one.
- 29/Jun/2018 (point 4) new MACD low is established - corresponding with price low of 22/Jun/2018 (signal was 7 days late due to slow 12,26,9 MACD) - this point however is not as significant as point 2 (is higher and not consecutive). Trendline 1-4 is established.
It is worth observing what will happen as both MACD lines will cross trendline 1-4 from above. If new MACD low (point 5, not marked on chart) will be highr than point 4, there can be a break out and strong movement to the upside. However, if point 5 is lower than point 4 it may mean that trendline 1-4 is not holding and IOTA may follow downtrend as RSI primary trendlines are indicating.
Ziza23456