DemiPixel

Forecast of IOTA's Current Correction

Long
BITFINEX:IOTBTC   IOTA / Bitcoin
333 views
1
It seems like we're getting to the bottom of our X and preparing to go our Y. B is exactly at the 0.5 of A, strengthening this prediction that we're at the end of our C (it's the same size as A). There's no guarantee we're on a rising correction (as oppose to a flat, meaning Y would be lower), but it seems like we should be breaking the top this section soon to approach it. For a safer entry, you can wait to buy in at the bottom of B on the way to Y.
Comment: Here's another option. We could expect another touch to the bottom (well, at least dip) before our climb.

Comment: This could be it! Wait for a break above the main pink top trend!

Comment: Here we go! We'll have some pullbacks, but don't scare yourself out of the trade, we'll be going up long term!
Comment: Going exactly as planned, some consolidation before the next move up!

Comments

I dont get the optional idea: How can an abc-correctional pattern form a 5 (expected to be an impulse)?
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DemiPixel ThommyTomka
@ThommyTomka, There's going to be tons of different ways to describe the same chart, and where you put the start/end of each wave is going to vary from person to person. I was a slightly rushed in posting this and after a reexamination concluded a 5 wave pattern would make it easier to determine where the X wave would end. It would still work with an ABC, it's just harder to predict where C will end.
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