This is my idea for a new 5 wave cycle. Targets for each wave are in the chart. Could this be wave 1 of 5? Possible top for wave 5 in 2033 or around this time. After, our first real bear market, multiple years ( Maybe 5 or so)?
Iota's bottoming structure looks better this cycle than last. Accumulation phase almost over and soon we start Wave 3 of 3. Expecting a rapid price increase to $.80 area and a top for wave 5 of 3 at around $1.5. After reaching this target we should see a longer correction, around 2 months for around 50% loss.
My end target for this cycle will be $3.50 to $4.50
128k to 90k to around 160k
I think a lot of people will be caught on the wrong side of the trade once we head from 128k to 90k which will cause the price to move up fast once we bottom around 90k. Around 160k or so for this cycle top.
I am updating an older idea on wave count and changing some targets. I was originally anticipating a June sell off, but things are starting to line up better for a July sell off. We will have to see how these next few months play out.
