IOTA Death Cross formation - Prepare for price drop
IOTA had a Death Cross formation on the daily chart. Death Cross is an important bearish signal generated when the 50-day moving average crosses below the 200-day moving average.
Stoch RSI is over-bought on the daily chart which also confirms the possible bear run.
I expect the price to drop till 1.2148 (fib. 0.618)
Here is my trading idea:
Short at: 1.31
Take profit at: 1.21
Stop loss: 1.45
Stoch RSI is over-bought on the daily chart which also confirms the possible bear run.
I expect the price to drop till 1.2148 (fib. 0.618)
Here is my trading idea:
Short at: 1.31
Take profit at: 1.21
Stop loss: 1.45
Trade stängt: målet nått