Chart is messy, I apologies. Free account won't let me save multiple chart and I don't want to redraw it. If you look at LTC, BTC, IOTA chart you will notice that all markets ended their Elliot wave 5 on Friday/Saturday and is now showing identical downtrend pattern. By that I mean, exactly the same candle stick pattern. Experienced trader should know already that the market price is manipulated and not a real valuation of anything. To all those who said that the stock market cannot be manipulated, I would like to correct you again that the crypto market is unregulated and this now is good proof. Someone took great effort to time multiple markets to end its wave 5
on 15th December which is why IOTA had such an explosive run up.
At this point, I am not saying the bubble burst as it will only burst when panic ensues and we don't know what the manipulators intends to do atm. Assuming they do not cash out, the market should settle somewhere much lower than now. Say <10K BTC, <100 LTC, <3 IOTA. The absolute bottom for IOTA would probably be in the range of $2 to $2.5 , so if you are going to hold. You might as well sell now. Even if you plan to buy more from the bottom to get a better average price, that is pointless in a bear market. The bull run is OVER and it is now the bear market. Short it and enjoy, or sell and sleep in peace. For those of u holding above $3.5... buy more to average then cash out break even or just take your losses before it worsen.
Consolidation will happen at the bottom for a long period again before the next bull run which will aim for $10.
PS: No TA is final, but just an interpretation of the current market. Good luck and stay safe. I would really recommend selling in case of a bubble burst
on 15th December which is why IOTA had such an explosive run up.
At this point, I am not saying the bubble burst as it will only burst when panic ensues and we don't know what the manipulators intends to do atm. Assuming they do not cash out, the market should settle somewhere much lower than now. Say <10K BTC, <100 LTC, <3 IOTA. The absolute bottom for IOTA would probably be in the range of $2 to $2.5 , so if you are going to hold. You might as well sell now. Even if you plan to buy more from the bottom to get a better average price, that is pointless in a bear market. The bull run is OVER and it is now the bear market. Short it and enjoy, or sell and sleep in peace. For those of u holding above $3.5... buy more to average then cash out break even or just take your losses before it worsen.
Consolidation will happen at the bottom for a long period again before the next bull run which will aim for $10.
PS: No TA is final, but just an interpretation of the current market. Good luck and stay safe. I would really recommend selling in case of a bubble burst
Comment:
$4.5, turning point is here. Up or down. Decisive moment for the future.
Comment:
Sorry I meant $4.15
But if we crash towards, then bear is confirmed.