IOTUSD seems to have completed all levels. Every rules (as far as I know) are respected. From ABC to double zig zag to 1-5 waves every aspect of the theory are respected. If you look some of my last post i already did take positions but im aware of a little subewave 5 which would complete the B of our current structure. I did expect a last subwave 5 in BTC and sub wave 5 in BTS (which are the ones i follow the most) to complet their count too. I have the same results with IOTUSD
I did not work this chart to fit my other projection but strangely it matches my others projection hypothesis of a end of correction in August and I started to be bullish on others currency in september like BTS. IOT seems to match this idea too.
The temporary target seems to be 1.24 and i expect to be in at least 2 months time frame since this structure have a lot of sub structures. I will update the count to be more precise.
____________ To back up this move up lets check indicators
Daily MACD- higher low on the long term perspective - near positive spectrum
Weekly MACD - imminent bullish crossover projected with bullish divergence on histogram
Volume - spike of volatility in daily volume at the projected last C of the cycle and during our current structure - rising volume near the B which is a projected bounce toward 1.24 for C
RSI - strong recovery of oversold state at the projected end of correction in August -last sub wave 5 for B (our current structure) should go toward the lower limit of RSI soon then plenty of space for the bounce _______________________
Last remark is we could start impulse sooner :
Trade active
⋅
Pretty convinced im correct. The 4h chart count and indicators say the same :
Potential bullish crossover onn the 4h will impact the projected bullish crossover on the daily