📊 IOTX/USDT Perpetual – Reclaim Attempt After Deep Wick
Current Price: ~$0.0193
Trend Summary: IOTX recently bounced back from a sharp sell-off wick and is forming higher lows. Current structure suggests bullish recovery potential if resistance is reclaimed.
🟢 Bullish Bias – Watching for Breakout Retest Play
📈 Entry (Long Idea):
Break and close above $0.0204 (horizontal resistance + minor consolidation zone)
🛑 Stop-Loss:
Below $0.0185 (recent swing low, below consolidation support)
🎯 Take-Profit Targets:
TP1: $0.0212 (recent local top)
TP2: $0.0220 (May 11 resistance zone)
TP3: $0.0232 (key breakout level)
📊 Risk/Reward Estimate:
R:R = ~2.5:1 depending on execution precision
🔍 Technical Notes:
Bounce off low-volume trap wick indicates strong demand zone at ~$0.018
Consolidation forming ascending structure, signaling potential continuation
Watch for volume confirmation on breakout
⚠️ Invalidation:
If price breaks and closes below $0.0185 with strong volume — idea fails, cut losses
📢 Signal Analyst: @RanaDanialBabar
🕰️ Timeframe: 1H (short-term swing or intraday potential)
