Crypto Screener › Forums › Iota (MIOTA) Forecast – Technical Analysis › Iota (MIOTA) Forecasts – Technical Analysis – December 2017 › Reply To: Iota (MIOTA) Forecasts – Technical Analysis – December 2017
The IOTA markets surprised many by showing strong buying support above $3.
The IOTA market is clearly bullish and showing some resitance above $5 forming a descending double top. I take this as a a bearish short term signal and would expect the bottom trendline to act as support.
Look towards $5.2 and $5.5 for the breakout trade here.
Medium to long term I am bullish on the market, I will consider the bears back in town should we start trading below $3.5 again, in which case I will try to get some buys in for the long term down to the $2 zone.