Technical Analysis :: IOStoken (IOST) :: Riding the Fib Line!

IOStoken (IOST) Technical Analysis - 07/11/2018

With the most recent #Bitcoin breakdown, it's important to be on the lookout for an #altcoin or two that is in a good position to yield strong returns once Bitcoin (BTC) starts heading back up. In this post, we are going to be looking at IOStoken (IOST).

IOST 4 Hour Chart:

IOST Is sitting nicely on top of the descending wedge that it had broken out of, and is now testing the the prior resistance line to establish a support line. Currently IOST is hovering right next to the 0.786 fib level at 325 sats.

Bullish Divergence on the 4 Hour Chart:

As we can see on the RSI an StochRSI, there is Bullish Divergence forming on the 4 Hour Chart. The price is making lower lows, while the indicators are making higher lows.

How to Identify Different Types of Divergence:

Here's a quick graph that you can use to help identify different types of divergence on the spot!

Trade Setup:

I will be looking to scale in between 300 and 320 sats. My stop-loss will be just below 300 sats. Price targets are listed above.

Thanks for your time! If you have any questions please leave a comment!

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Thanks everyone,
Neeko

Legal Disclaimer:
I am not a financial advisor and this is not financial advice. Please invest based on your own discretion and knowledge.