$IOTX has broken above an important resistance level and also moved out of its downward channel. That looks strong at first glance.
But if you look at the bigger picture, the overall market trend is still bearish. So this breakout might not mean the trend has changed, it could just be a temporary move before price drops again.
Because of that, short selling cld still be a good and higher probability option, especially if the price struggles to stay above the breakout level.
The key thing is not to rush in. Wait and see if the breakout holds or fails before making a decision.
