Iota is a speculative coin; however, it is in an area I want to be in. The IoT (Internet of Things). We live in a great time where the advancements in technology are in hyper drive and investing in the old companies like coca cola, Kellogg, P&G are like investing into wood wheels for horse and buggies. But in any portfolio these are the backbone of my holdings. I can't just go all in on speculative stocks or coins, that's a recipe for disaster. But I want to be in new areas of development where I see potential. But let me warn you "potential" does not lead to profits. Working products do. So I have a speculative portfolio allocated to moon shots. Does Iota belong in it?
I love the area of the IoT. I have bought stocks aimed at this as well. Micro payments will be a part of this technology and this is the goal of Iota. So let's break down our speculative pick as it does not have a working product nor any market penetration.
1. It's definitely in an area I want to invest in the IoT
2. Website professionally done and to me this is important
3. Their goals, visions, and industries are well defined and how they intend to capitalize on it.
4. The recognize the need for micro payments for the new economy where devices are connected and payments will be automatic
5. The Team. This is important in speculative companies and Iota is loading up with top talent. I like that Iota is NOT full of emoji's with names like "code cowboy" "phantom menace" etc. These are professionals that come from various backgrounds, business, educational, finance, Medical doctors, PhD's and Engineers. I mean ex-Nasa researchers? Love it!! Very diverse team and diversity is a winner!
Ok so on to the charts.
It appears we have broken the correction cycle. In the upper left corner you see simple trend lines. I can not emphasize enough that until you can recognize and properly draw trend lines the rest of TA is pointless. So there I have drawn in my trend lines on the daily. Now I zoom in for patterns as you can see in the upper right. A nice wedge pattern that Excavo is an expert at finding. There is the typical ABCDE wedge corrective pattern. Note it is based on the trend lines. I boxed one area where there was a slight change in trend, but the overall trend was still down so I consider that noise. Now this is me and everyone looks at trend lines differently.
So now that we had the breakout, (that I missed) I do not want to just jump on board. So let's apply some EW and Fibb to see where we might get a better buying point. Now note in the lower left I started with, yes, trendlines again. So I have adjusted down to the 30 minute to see where we are in the micro cycle. Ok well in my opinion we just completed (4). Note these are fractal cycles to the right is the macro cycle. But looking at the fractals I noticed something that never ceases to amaze me. If I add the first two impulse waves together I get 72 cents in movement. We started at 34 cents. I add that to these impulse waves I get $1.06 which is the original high. This means wave (5) will likely be between 28-36 cents. So do I buy here. I could and will buy an initial position here but normally after a 5th wave we correct to the 0.618 level. Not always but quite often. So I want to add more around 60-70 cents.
To the right is the long term EW and Fibb levels. So potentially I am looking at a 300-400% increase from today's price. So why not buy a little here. Now do we get there? Remember this is a speculative coin, so invest at your own risk. I may make trades along the way to reduce cost, but we already missed the breakout. Long term with the team and the area they are aiming for, I think this coin is a winner. But in 1996 I thought Ballard Power was a winner too, well, let's just say don't risk more than you can afford to lose!
I love the area of the IoT. I have bought stocks aimed at this as well. Micro payments will be a part of this technology and this is the goal of Iota. So let's break down our speculative pick as it does not have a working product nor any market penetration.
1. It's definitely in an area I want to invest in the IoT
2. Website professionally done and to me this is important
3. Their goals, visions, and industries are well defined and how they intend to capitalize on it.
4. The recognize the need for micro payments for the new economy where devices are connected and payments will be automatic
5. The Team. This is important in speculative companies and Iota is loading up with top talent. I like that Iota is NOT full of emoji's with names like "code cowboy" "phantom menace" etc. These are professionals that come from various backgrounds, business, educational, finance, Medical doctors, PhD's and Engineers. I mean ex-Nasa researchers? Love it!! Very diverse team and diversity is a winner!
Ok so on to the charts.
It appears we have broken the correction cycle. In the upper left corner you see simple trend lines. I can not emphasize enough that until you can recognize and properly draw trend lines the rest of TA is pointless. So there I have drawn in my trend lines on the daily. Now I zoom in for patterns as you can see in the upper right. A nice wedge pattern that Excavo is an expert at finding. There is the typical ABCDE wedge corrective pattern. Note it is based on the trend lines. I boxed one area where there was a slight change in trend, but the overall trend was still down so I consider that noise. Now this is me and everyone looks at trend lines differently.
So now that we had the breakout, (that I missed) I do not want to just jump on board. So let's apply some EW and Fibb to see where we might get a better buying point. Now note in the lower left I started with, yes, trendlines again. So I have adjusted down to the 30 minute to see where we are in the micro cycle. Ok well in my opinion we just completed (4). Note these are fractal cycles to the right is the macro cycle. But looking at the fractals I noticed something that never ceases to amaze me. If I add the first two impulse waves together I get 72 cents in movement. We started at 34 cents. I add that to these impulse waves I get $1.06 which is the original high. This means wave (5) will likely be between 28-36 cents. So do I buy here. I could and will buy an initial position here but normally after a 5th wave we correct to the 0.618 level. Not always but quite often. So I want to add more around 60-70 cents.
To the right is the long term EW and Fibb levels. So potentially I am looking at a 300-400% increase from today's price. So why not buy a little here. Now do we get there? Remember this is a speculative coin, so invest at your own risk. I may make trades along the way to reduce cost, but we already missed the breakout. Long term with the team and the area they are aiming for, I think this coin is a winner. But in 1996 I thought Ballard Power was a winner too, well, let's just say don't risk more than you can afford to lose!
