IOTABTC is still finding support in the Optimal Trade Entry (OTE) long zone and just above the long-term demand area which has sparked a bullish SCMR pivot bar today despite price moving lower and sparking a bearish candle formation over the past 24 hours, which is a decent sign for the bulls moving forward. So are the momentum oscillators which are very close to fully recharged, the volume indications which are slowly improving, and short-term market structure which is actually fairly bullish, so we'll stay in the still active ProTrade heading into the weekend. That said, the shorter-term moving averages continue to fall and are acting as overhead resistance, the longer-term moving averages all remain in steady downtrends, dynamic resistance continues to actively build overhead, and the Ichimoku Cloud remains firmly bearish out in front of the market, so we want to keep targets reasonable and stops tight in order to minimize risks moving forward.
We will stay in the remaining portion of the LONG position off of the 0.0000xx level with an adjusted stop around breakeven and a final target of 0.0000xx.
ENTERED @ 0.0000xx; PARTIAL PROFITS TAKEN @ 0.0000xx
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