IOTA has hit the 1.618 fib extension level of wave 1-2 and therefore this could be the end of wave 3, and wave 4 is about to begin.
My targets for wave 4 is around $2.2 - $2.1 these are the .5 and .618 retarcement levels respectively of wave 3.
In regards to wave 5 i have two possible scenarios either a truncated 5th back to $2.6 which would mean that wave 5 is equal to wave 1. Alternatively if price continues past $2.6 my second target would be $3 this as this is the 2.618 fib extension level
This is not investment advice, just my opinion
My targets for wave 4 is around $2.2 - $2.1 these are the .5 and .618 retarcement levels respectively of wave 3.
In regards to wave 5 i have two possible scenarios either a truncated 5th back to $2.6 which would mean that wave 5 is equal to wave 1. Alternatively if price continues past $2.6 my second target would be $3 this as this is the 2.618 fib extension level
This is not investment advice, just my opinion
Trade closed: target reached:
Upper target reached could possibly move down to $2.1
If this is now the beginnning of wave 5, I would place a protective stop at $2.1, a move below would indicate a further more complex downtrend. Target for wave 5 is still unclear, however a minimum target of $2.6 is a healthy profit at almost 20%.
If this is now the beginnning of wave 5, I would place a protective stop at $2.1, a move below would indicate a further more complex downtrend. Target for wave 5 is still unclear, however a minimum target of $2.6 is a healthy profit at almost 20%.