IOTX technical analysis

IOTX seen from the temporality of 1W we can see how the price when arriving at the diagonal support of the major figure, indicated in the chart above by the red diagonal, has started to change its momentum upwards creating a bullish closing in the previous candle and a quick continuation of the movement during today, the series of candles look pretty good to continue its movement upwards, however, we also see that the current candle is finding resistance at 0.00000079 leaving a considerable wick above this level, so it is very possible that we will see a reversal in the movement and then continue in search of our profit targets, the first target is located within the price range of 0.00000114 – 0.00000142, marked on the graph within the light blue rectangle, the second target gain is located at 0.00000183, marked on the graph by the horizontal black color.

IOTX seen from the temporality of 1D we can observe more closely the current movement of candles, we see the strong vertical impulse that has had these days, this can not be very consistent so to wait for a bass candles should be the safest in the coming days, the range I have delimited in the chart above by the 2 small horizontal dark blue, the resistance marked at 0.00000079 and the support marked at 0.00000061, the price should move within those levels and then try to continue with another bullish movement that reaches our first target, in the chart I have drawn the possible trajectory that should follow the price during the journey, the RSI indicator gives us a signal of overbought after having shot to break the bull pennant formed within the indicator, this is a signal of reversal.

In conclusion, IOTX has escaped me in its initial movement, now the safest would be to wait for a new entry into the price range mentioned above, we could have the following momentum and take profits within the price range of 0.00000114 – 0.00000142, however, I recommend to be very attentive to the action of the price in 1D, if the price closes below 0.00000061 we could fall to 0.0000050, so we must be very careful to avoid invalidations.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

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Best intentions, then life gets in the way

I should be packing my bags, getting ready for a company retreat to France. I am nursing sinus pain instead.

Every year the company I work for has a get together where all of the employees go to a city and get to work together / hang out together. This is a good thing as many of the people work remotely and thus we have very little interaction with one another other than via video chats.

You can build a much stronger bond in person, additionally it is much easier to understand someone else’s pain points when you can communicate without boundaries.

This would have been my first retreat so I am a bit bummed at not being able to make it and meet many of the people whom I have dealt with in a strictly virtual manner.

The whole of last week I skipped writing any posts, so I am pretty bummed out in general.

I always try put at least one photo in my posts, more often than not a photo I have taken, so today you get a snail. It had rained and I saw this guy slipping along, with everything being wet I thought it had a nice contrast. Photo was taken with my phone, but came out alright I think.

I am DIYing to get back to some DIY so I have more interesting (to me) content to post. I am on the mend but not healthy enough yet to do any physical work 🙁

Hopefully I can come up with something less whiny to post tomorrow.