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Weekly forecast IOTA / BIT technical chart
Symbol IOTABIT

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (22.50000 to 20.90000). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

While the price is below the level 26.5, the probability of beginning of uptrend is too weak, so we would enter the market with buy trades based on Daily-Trading-Opportunities and a day close price above 26.5 and expect to reach short-term targets.

  • Beginning of entry zone (22.50000)
    • Support on 08/08/2019
    • Support on 08/11/2019
    • Support on 08/12/2019
    • Support on 08/13/2019
    • Support on 08/14/2019
    • Support on 08/16/2019
    • Support on 08/20/2019
    • Support on 09/05/2019
    • Support on 09/08/2019
    • Support on 09/09/2019
    • Support on 09/12/2019
    • Support on 09/13/2019
    • Resistance on 12/27/2019
    • Resistance on 12/28/2019
    • Resistance on 01/01/2020
    • Support on 01/04/2020
    • Support on 01/05/2020
    • Support on 01/14/2020
  • Ending of entry zone (20.90000)
    • Support on 08/09/2019
    • Support on 08/10/2019
    • Support on 12/25/2019

DateFebruary 23, 2020 - 16:55
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 20.90000, beginning of uptrend is expected.
  • We make sure when the resistance at 40.90000 breaks.
  • If the support at 20.90000 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 39.16500 on 02/03/2020, so more losses to support(s) 26.50000, 22.50000 and minimum to Major Support (20.90000) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 41.

Take Profits:

  1. 34.50000
  2. 40.90000
  3. 59.60000
  4. 82.80000
  5. 114.00000
  6. 152.10000
  7. 185.20000
  8. 235.50000
  9. 285.90000
  10. 450.20000
Click on the level to view price action history.

Symbol Released Current Forecast
IOTA / BIT (IOTABIT) Sun, 20 Mar 2022
IOTA / BIT (IOTABIT) Tue, 15 Mar 2022
IOTA / BIT (IOTABIT) Mon, 7 Mar 2022
IOTA / BIT (IOTABIT) Sun, 27 Feb 2022
IOTA / BIT (IOTABIT) Sun, 27 Feb 2022