2-19-2018 IOST Pennant Formation - Buying Opportunity


2-19-18 IOST.PNG

February 19th 2018 - IOST, traded on the Binance platform, has been making moves. We had a series of triangle formations forming over the past week that have been small, but stair-stepped in an upward trend that culminated with a nice breakout.

Looking at the 2-hour candlesticks, we now see a definite pennant formation that appears to be focusing in on a breakout point. The volume has been settling down since the previous breakout, which is very indicative of this coin moving to the next level.

Take special note of the volume spike during the beginning of the larger current triangle formation. The volume has settled since then, and it looks like a quiet consolidation is taking place as it settles into a new higher base at 0.05 price per coin.

The impending breakout move could push IOST back to the 0.09 support level. This is a great entry point to jump on board during what I truly believe is a bull market. The crypto market looks to be rebounding, and if this is continues, we should see several formations and lots of action for IOST.

My goal is to sell at the next peak, and then wait for the correction and consolidation to complete and then retake my position. The next move after 0.09 could possibly be 0.15. I will be looking at the charts after this next action point takes place, and we'll see if it looks like it is possible. Keep your eyes peeled!

Carlton Flowers
CryptoPro Trader Supreme

DISCLAIMER: I am not a financial advisor. Do not buy any cryptocurrency with money you cannot afford to lose. This post is for information and entertainment purposes only. Invest responsibly.