IOTA - Purely Technical [Mar2018]
INTERPRETATION
$BINANCE:IOTABTC was considered an ambitious but promising project upon its initial release but has since lost traction. Within the past few months, similar projects have emerged including the mainstream powerhouse
AMZN showing indications of a similar vision. Furthermore due to simply the nature of the project, apparent advancement will not likely emerge until the more impactful alt coins have been adopted. Despite the decline in value, IOTA continues to stand among the top 10 proving that it is still a promising contender with steadfast investors.
BUY SIGNALS
- Bear Pitchfork resistance
- Price-Cloud bull entry & breakout (circle)
CAUTIONS & CONFIRMATIONS
- Price-T&K status unstable
- upcoming Red Cloud (sell pressure may drive price back down)
- 0.786 Fib resistance to be tested (@ 16900)
- long-term outcome and external variable influence indeterminate
POSITION
Entry is high risk due to lack of stability from initial breakout. Close monitoring and risk/benefit assessment for ideal entry point will vary between investors.
$BINANCE:IOTABTC was considered an ambitious but promising project upon its initial release but has since lost traction. Within the past few months, similar projects have emerged including the mainstream powerhouse
AMZN showing indications of a similar vision. Furthermore due to simply the nature of the project, apparent advancement will not likely emerge until the more impactful alt coins have been adopted. Despite the decline in value, IOTA continues to stand among the top 10 proving that it is still a promising contender with steadfast investors.BUY SIGNALS
- Bear Pitchfork resistance
- Price-Cloud bull entry & breakout (circle)
CAUTIONS & CONFIRMATIONS
- Price-T&K status unstable
- upcoming Red Cloud (sell pressure may drive price back down)
- 0.786 Fib resistance to be tested (@ 16900)
- long-term outcome and external variable influence indeterminate
POSITION
Entry is high risk due to lack of stability from initial breakout. Close monitoring and risk/benefit assessment for ideal entry point will vary between investors.
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