Wave analysis of IOTA (vs BTC) predicting corrective action.
Updated
Done from an hour chart, I also marked up waves a degree smaller on the primary 5 but these are hidden from view.
I went long when it was 50 cents, gonna try play the bounce as marked.
New crypto is always a big risk. Excellent.
I went long when it was 50 cents, gonna try play the bounce as marked.
New crypto is always a big risk. Excellent.
Note
I like what IOTA are trying to do. Even though it's very early, I think there is a good chance this will develop into a full motive pattern as there is a fixed amount in circulation.They are clearly in need of people and time also, aren't we all (especially me).
Trade closed manually
Well B waves are never what we expect are they? Except when we don't have money on them, of course.I closed at the A but it never reached my expected B and seems to have performed a very swift and strong zig-zag.
I can't help but wonder if young coins, free of the reverberations of previous battles and clear support/resistance lines, may exhibit swift, simple corrective patterns.
If I wasn't so short on BCH I would certainly be long on iota now... and I may change my positions to get hold of some.
How it acts when it reaches 0.00015 is key.
Note
If it reaches. It looks to be topping out. No, patience, as always... I shall watch and wait. I do not consider that a B of the primary degree has happened yet.
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