CHART ART: IOTA Pennant Breaks Out but Where is the Follow Through?!

GOOD EVENING STEEMIT!

Just a quick Sunday evening IOTA chart update. This weekend price action is just too good to not at least mention and I'm a stickler for a good trading narrative.

So remember yesterday’s IOTA pennant pattern waiting to rip faces off? Well it’s crunch time. Either the faces go, or resistance holds and we’re forced to re-evaluate.

Check out how the charts are playing out below:

IOT/USD 4 Hourly

IOT/USD 4 Hourly

Pennant?

Goodbye!

IOT/USD 15 Minute

IOT/USD 15 Minute

Intraday retest of previous short term resistance turned support?

BOOM!

The only question that remains here is, is this an accumulation gift or is the lack of follow through a tell that the breakout isn’t going to be sustained?

With a project like IOTA, I really can’t see accumulating below $1.00 being an issue long term, but I really want to see our baby rip here from a technical analysis point of view.

Just give it to us already!

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Now, if you’re in Aus then enjoy what’s left of your Sunday night with some brand new Coccolino Deep:

I don’t know what it is about this guy’s mixes, but they just take me somewhere else. Perfect when you’re trading, charting or writing.

Definitely get around them!

Peace.

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Related @forexbrokr CHART ART Blogs

If chart setups that I've spoken about before are related out then I'll leave them here.

CHART ART: IOTA: Pennant Continuation Pattern Ready to Rip Faces Off
CHART ART: Friday Altcoin in Focus: IOTA - IOT/USD
CHART ART: Thursday Altcoin in Focus: TenX - PAY/BTC

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