IOST / BTC technical analysis [BINANCE]

IOST / BTC technical analysis [BINANCE]

By MrBullishSail | TA crypto market | 28 Apr 2019


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IOST in temporality 1W shows the known bullish pattern called: adam and eva, this pattern is characterized by beginning forming a V-shaped LL, after undertaking again a bearish movement, this does creating a rounded floor taking as support again the LL formed by adam, as we see in the graph above, IOST carries until now the correct structure. I have pointed out in the chart the objective of the pattern at the high point of adam to ensure gains, however, the pattern is resolved above.

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Seen from the temporality of 1D we can observe how the current movement is above key support for bulls, if the price manages to stay above the support it will be a strong signal for more bulls to open long positions. I have plotted on the chart the possible movement that the price should follow in the following days.

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It is always important to follow the movement from a minor temporality, in this case, seen from H4 I have pointed out in the graph inside a gray rectangle the nearest ITZ point located within the range of 221 - 214, the price should close above that zone and perform a pullback that takes it as support to confirm the bullish movement.

 

The take profits I have pointed out in the chart, these TP are objectives to meet in the short and medium term, in the long term we should have much higher gains thanks to the current bullish pattern in 1W.

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I add the most important fundamentals for the currency, in fact, the most important is the 30th of April, there is expected to be a strong demand that will greatly increase the liquidity in the market for IOST with its stable currency, this would greatly support the pattern that currently has its graph.

 

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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MrBullishSail
MrBullishSail

Technical Market Analyst Crypto trader Website: https://www.buymeacoffee.com/XCdmEAZnD Twitter: https://twitter.com/armijogarcia


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