An excellent entry point in IOTA was 2 weeks ago as it broke above cloud, with green cloud beginning to form. And checkout the huge upwards move over the past few days!
However today is strained by the flash crash in bitcoin price drop, IOTA being dragged along by the general sloshing in the crypto market.
But the heiken ashi 1 day for IOTA still looks very positive, along with upwards MACD:
So momentum is still on the up and up for IOTA right now from the 1D time-frame.
Looking at the 4 hour time-frame:
Huge downdraft all the way back down to hit both the kajun line of ichimoku and the median bollinger line (both are strong support lines) with the current 4 hour candle painting positive green but 1hr 34 to go until the candle closes, so could go either direction at this point.
If the 1 day momentum holds, and the market recovers, I expect the upwards momentum of IOTA to continue nicely.
Zooming all the way into the 1 hour time-frame we can see the big drop rested atop the green cloud, didn’t pierce through at all.
The tinken line (yellow) has dropped below the kanjun line (purple) which I’ve highlighted inside the blue box.
So if we get that positive TK cross-over again quickly (yellow rising back above purple) it will indicate very positive 1 hour momentum; another strong indicator for continuation upwards.
If bitcoin pushes down it may take the rest of the market with it, and if IOTA drops below the green cloud into the area I’ve marked with an orange circle, we could see suppressed price action. But as of right now it’s looking strong.
Finally, the 3 day time-frame looks very good.
Tinken and kajun lines aligned almost 2 weeks ago and if or when the yellow breaks above purple on the 3 day, it will indicate a strong uptrend is forming. We’ve also broken into new all-time-high, so IOTA could be a very good buy right now.