„If the buyers will manage to come back above the blue line – buy signal will be triggered based on the false breakout pattern (yellow). In other words: there is no trading signal yet but wait for the daily candlestick close. Above the blue line – buy, below – sell. „
After the hard battle on this resistance, the final outcome was sell. The price declined sharply and made a local bottom on the 0.43 USD. Since that, we are climbing higher and now, the price is very close to trigger a major mid-term buy signal. First of all, IOTA broke the upper line of the triangle formation (green) and now, is trying to break the long-term down trendline (red). If the buyers will succeed to close the day above that resistance, the buy signal will be triggered. The first potential target is on the blue area, which was so important at the beginning of the month. Chances for an upswing are quite high.