Bearish break-out. Strong short.

2018년 8월 2일

IOTUSD has reversed as the price was rejected just above the 1.0195 4H Resistance (RSI = 33.534), breaking the 3rd recurring Curve pattern. This is the first strong bearish sign and if the 1D support at 0.9156 breaks today, we have confirmation of a new aggressive medium term downtrend. The oversold 4H tech (STOCHRSI = 22.631, ADX = 84.738, Williams = -83.582) may cause a short consolidation as those need to be harmonized but 1D (already on 4 straight bearish candles) should start pushing lower shortly after. Targets intact: 0.7947 and 0.6704 (Nov 24, 2017 contact point).