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.
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IOTA price analysis: Was it a bull trap?
Will we see 0.9? What are you thing about 0.9?
+1 Reply
I'm with you.
InvestingScope VYCanisMajoris
@VYCanisMajoris, Thank you. Your support is always appreciated. It is a downtrend and we will continue shorting until the charts show otherwise.
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