A lot of hype about #Iota in other telegram channels so I decided to take a look.

Looking at weekly, I do not know what they see bullish in here. The price lost its support and turned it into the resistance. Then it finds some kind of support but this looks more like catch a falling knife.

This will become bullish once broken support that is acting as resistance now gets reclaimed. Trading in between is just meaningless because the price can do anything.

On daily time frames, we can see what we want to see on weekly. Support got broken and turned into resistance. Then we saw a massive move up above broken support. On the retest, we saw that area acting as resistance again.

That was the only tradable pattern on this chart.

That is the same scenario we are waiting on a weekly time frame to consider Iota as a good investment or swing trade.