The 6 hour time frame is investigated in today’s Iota price analysis. Switching from an arithmetic scale to a logarithmic scale helps to make chart patterns clearer, which is also the case for IOTA.
Over 12 months of price action is captured in this analysis using a bearish price channel. The main bearish channel (upper green line and blue dotted line) even though tentative does provide context also for the price action of IOTA.
An inner bearish channel is also shown (with blue parallel lines), and is acceptable as chart patterns can nest inside one another. Physical measurements and/or projections based on the width of the inner channel are best carried out on an arithmetic scale, making the width useful as the minimum distance expected for price of IOTA to target upon upside or downside breakout from the inner channel.
Over 12 months of price action is captured in this analysis using a bearish price channel. The main bearish channel (upper green line and blue dotted line) even though tentative does provide context also for the price action of IOTA.
An inner bearish channel is also shown (with blue parallel lines), and is acceptable as chart patterns can nest inside one another. Physical measurements and/or projections based on the width of the inner channel are best carried out on an arithmetic scale, making the width useful as the minimum distance expected for price of IOTA to target upon upside or downside breakout from the inner channel.
