12/4 11:40pm – Unfortunately, Iota broke out downward which extends this trade, expecting break out to be next week. May go as low as $3 before bouncing off to return bull’ish.
This is a short trade, for anybody crazy enough to want to short Iota, because this coin should be stashed away and never traded away for 2 years minimum. It’s the best coin to blow up! But anyways… big consolidation happening in a pennant pattern.
One would assume it is a continuation of the upward trend from before, but it also depends on what Bitcoin wants to do as well. If Bitcoin is still kind of going sideways around the $17,000 – $18,000 range this week (as I predict in my other post) then Iota is very likely to break up.
Catch it at an entry point alittle more than $5 to guarantee you get in on the action & to make sure it is indeed a break up. If it does break; I’d say $7 is a good price it’ll reach or peak at.
It can break out any time between now and Friday. But me personally; I don’t care about Iota’s price or any movements, I’m holding this bad boy until 2019.