IOP Internet of People coin breakout? Daily Day Trade
50 minutes ago I posted on a Crypto Day Traders Club group on facebook:
We know that past movements are absolutely no guarantee of future movements. In the IOP chart we see 2 waves n the last 36 hours. On the first one a ceiling was tested, there was a bit of retraction, tested and broke. On the second wave it looks like we are going for the second test of that ceiling around 132k sats. What do you think will happen?
Indicators are not exactly favorable for another burst up, but then again of you look at the last two big movements up and down on the last couple of weeks, MACD and RSI on hourly charts were pretty aggressive, so a third aggressive move up wouldn't be unexpected.
Also considering the bounce prices and duration of each movement up then down, I would say the current run up is slower than both previous ones as if traders are thinking more before investing the money, so we could see a third burst.
Thoughts?
Well, it is happening right now.
IOP is currently at 134k satoshis. Considering the spectacular first run up marked the staggering 890% price up (15k sat to 149k), then the second run up 163.7%, we could see something between 96% (currently) and 130%.
![2017-09-29 IOP Breakout.png]
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/* This is not financial advice. Invest and trade at your own risk. NOBODY is right all the time. They only have to be right a few times and have a great strategy and risk management to make money. Be careful, invest at your own risk. */
Crypto Day Traders Club
is a Facebook group I created for likeminded individuals who are serious about day and swing trades. Not a place for people looking for easy ways to make money. There people work hard to make their buck, good bucks. We share trading insights, techniques, opportunities. Fundamental and Technical analysis ideas and facts. Always backed up by accordingly explanation, no posts or comments that don't add value to the subjects discussed.
