H&S completed. New Channel Down emerging. Short.

IOTUSD has most likely completed a tilted 1D Head and Shoulders pattern (RSI = 40.827, STOCH = 46.926) and the consolidation on the right Shoulder should be over. We are still within the greater 1W Channel Down pattern (MACD = -0.286, Highs/Lows = -0.1617, B/BP = -0.5165) where every Lower High is a short opportunity. If that is correct then a new 4H Channel Down should emerge (RSI = 42.474) that will descend towards at least the first TP = 0.3199 (November 02, 2017 low). The 0.1459 (July 15, 2017 low) extension can be put on hold for the end of the month.