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  1. #1
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    Default IOTA trading: IOTA Trends in a Falling Channel, Will Price Break Up?

    IOTA Price Analysis April 21With the current market condition, this cryptocurrency may reverse the trend after reaching a solid support level which may be followed by a break-up. If otherwise, the market could further trend in a channel. As of the time of writing, IOTA is down by 3% with a market cap valuation of $846 million.

    IOTA/USD Market

    Key Levels:

    Resistance levels: $0.33, $0.36
    Support levels: $0.28, $0.27

    After the April 2 shock-wave, IOTA trading has been following a bearish sentiment. Meanwhile, the sellers have been gaining control ever since. The bearish reverse move is revealed on the 4-hours RSI. For the past seven days now, the price action has been moving between the range of $0.32 and $0.3 price levels.

    While consolidating, IOTAUSD market is currently indecisive. A surge in volatility is likely to play out. Still respecting a falling channel, a bearish surge could slump price to $0.28 support level and below. On the other hand, a bullish surge is likely to meet resistance levels at $0.33 and above.

    However, a significant break above the channel could set price on an upward movement. Looking at the RSI, it appeared a slow rise is converging.

    IOTA/BTC Market
    As appeared on the medium-term perspective, IOTABTC value has significantly dropped; losing about twenty percent in the past three weeks of trading. Selling pressure is dramatically approaching 5400 SAT support.

    Following a bearish sentiment, the cryptocurrency has remained within the range of a channel trend. On the 4-hours RSI indicator, the slope move is revealed below the 50 level after the sharp fall in early April. A cross above the 50 level could lead to a bullish move. If such a scenario occurs, the potential resistance level to look for is 6180 SAT and above.

    Maintaining a trend between the ranges of the channel could further position the market in a bearish scenario. As of now, the 50 level of the RSI remains a defensive line for the bears.


    Please note: insidebitcoins.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.


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  3. #2
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    First of all whatever your trading strategy is to choose a reputed trading broker. Regulated trading brokers are best for and secure for trading. Next important thing is the deposit and withdrawal process. Finally, according to your trading style, you have to select one. BPRIMES is best for all type forex trading. A broker is the most important fact in forex trading and there are many scam brokers in the market trader need to check and verify many things before choosing a broker.

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    In Forex market traders are being using different trading strategies as per their trading requirements. And in that case trader should select the broker very carefully because not all the brokers are suitable for all types of trading strategy. I select Forex4you broker for my long term trading strategy because in their platform they allow both short term and long term trading strategy. For all the traders they give – instant trade execution, low zero spread etc.

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