Quick analysis on IOTA/BTC using trend analysis.
1| Iota is able to break the resistance and goes up to the first target zone of 6-8 dollars.
Notes: x 5.8 is an important point to watch (previous ATH).
x After this a small correction is possible, we might form an uptrend to 10-15 dollars (elliots impulse wave ABCDE)
2| Iota is not able to break the resistance in the comming days and will go back to it's previous trendline.
In about 2 weeks then upper and lowertrendline cross forming a triangle. Most likely Iota will break the upper line going up to the named target area or even higher.
3| Iota is not able to break the upper line, BTC gets pumped and alts fall.
I don't think BTC will get back up that fast. I'm not saying we won't see btc 15-18k in 2 weeks.
IMO the next real btc pump won't start before the end of januari, making it more likely that alts will keep gaining value.
Note:
Last days I often saw that the volume wasn't following in the uptrends.
However, with every uptrend more and more volume (bulls) kept building bases for Iota.
Leave a comment with which scenario you find the most likely and why you think that is.
1| Iota is able to break the resistance and goes up to the first target zone of 6-8 dollars.
Notes: x 5.8 is an important point to watch (previous ATH).
x After this a small correction is possible, we might form an uptrend to 10-15 dollars (elliots impulse wave ABCDE)
2| Iota is not able to break the resistance in the comming days and will go back to it's previous trendline.
In about 2 weeks then upper and lowertrendline cross forming a triangle. Most likely Iota will break the upper line going up to the named target area or even higher.
3| Iota is not able to break the upper line, BTC gets pumped and alts fall.
I don't think BTC will get back up that fast. I'm not saying we won't see btc 15-18k in 2 weeks.
IMO the next real btc pump won't start before the end of januari, making it more likely that alts will keep gaining value.
Note:
Last days I often saw that the volume wasn't following in the uptrends.
However, with every uptrend more and more volume (bulls) kept building bases for Iota.
Leave a comment with which scenario you find the most likely and why you think that is.