Seems to be complete at long last. There's no doubt the bottom is in.
Just a little update from my previous post. A little more conservative on the target, reducing from $4800 to $4400 in the medium term.
A guidelines on potential retracements and targets.
Plenty of fear in the markets, momentum has been lost, every person is calling for 8k. Looks to be a truncated 5th wave which typically signals strength in the opposite direction. Expecting a massive bull run to new ATHs.
With fundamentals stronger than ever, the rise of Iota has begun. The pattern has been completed: While short lived, this just shows how many buyers are lurking. The general sentiment of the market is fearful and timid, often when its most profitable to enter a position. I believe this is wave 3 so this bull run will continue for quite some time.
My previous post suggested we would make a slight high before a sharp drop: I believe the correction is now coming to an end with a buying opportunity in the near future. While it is completely possible to drop to 5k to complete the pattern, the landscape of crypto is no longer as weak as it once was. Large entities will buy and support the price. In terms of...
There is limited data as Iota was primarily traded over the counter before being added to the first major exchange Bitfinex. Fundamentally everything seems to be on track but it won't be discussed in depth as is mostly about technicals and psychology. I will say that BOSCH opening saying they invested into the IOTA tokens itself is huge. A correction has taken...
The third wave is typically long, obvious and clear. The psychology behind this can be summed up with the word greed. People are expecting massive gains in a short period of time. The sheeps have joined the flock, mums, dads, uncles and aunties are all talking about it. Fourth wave is sudden and expected. The bulls are exhausted and the sheeps need to be taught...