IOTA MORE BEARISH THAN BULLISH
TO me, IOTA is still on A correction and will probably finish its correction to A at around 1.45 to 1.55, then it will attempt bull to B point only to get rejected to come back down to C at somewhere near or lower than A. That to me will be the way IOTA will play its movement. Please let me know if I am counting it wrongly but I cant help but to think that this could be the way. Because according to Elliot Wave, correction usually comes in either 5-3-5 or 3-3-5 waves downwards and I clearly see 5 waves going down hence suggesting that we are merely at A phase. IOTA is finding strong support at daily candle of 100EMA. Although its showing strong rejection to the 100EMA, i think it will penetrate further to complete the A phase at golden ratio before moving up to B phase.
RSI is showing two parallel support and resistance line and what it appears to me is that there is still little room for IOTA to further drop.
MACD has also shown deadly crossover and doesn show sign of reversal for now.
I will be buying if it goes to 1.45 to 1.55 range for sure.
RSI is showing two parallel support and resistance line and what it appears to me is that there is still little room for IOTA to further drop.
MACD has also shown deadly crossover and doesn show sign of reversal for now.
I will be buying if it goes to 1.45 to 1.55 range for sure.
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