Up and Down but no Breakout!
This will be a short update
Like many cryptocurrencies, IOTA has been somewhat stagnant since the 2nd week of January and refuses to make a primarily bullish or bearish move. Instead, it's stuck in a channel and is bouncing off both strong supply and demand zones between $3-$4.
While you may be tempted to play the breakout, the key to entering a position for IOTA is patience. Wait for the candles to close outside of the supply and demand zones before entering a trade, and be conscious of the momentum of the move (large candles vs. small, steep trend line, etc.) that way you can be more confident that it will not be a fakeout.
As seen above, price has touched either zone on at least 10 separate occasions
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