IOTABTC Price Analysis – June 24
IOTABTC is expecting a trend reversal that could turn the pair into an uptrend. A possible bottom is found for the IOTABTC pair and from here prospective traders will be watching out for strong price action at the current price.
Supply Levels: 0.000025341, 0.000037142, 0.000040878
Demand Levels: 0.000055084, 0.000048449, 0.000046627
IOTABTC Long term trend: Bearish
On the daily chart, the forecast and analysis show that the pair could hit the lowest levels but as observed on the daily chart a possible double bottom structure is in place and that could bring about a correction to the upside.
Though the pair is experiencing a short term downtrend, this could just be a correction for the medium and long term bullish condition.
IOTABTC Short term trend: Bearish
After trading as low as level 0.00004 during the day, the market is likely to find buyers at the same level while it is usually analyzed as a double bottom, it has shown to be bearish after the movement towards the supply area for IOTABTC as prices on trading may close lower.
Hence, the downside momentum could see correction up should IOTABTC supply area on the level at 0.00041200 holds for this month.
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