Hey guys, let´s have a look on Iota. This is an update of my last idea with Iota. I said that we are going lower at the top of the trendchannel. Now we are forming that move with a nice head and shoulder pattern, with the target of 0.65 USD. This is also the the zone I marked many weeks ago as a possible buy zone, in reason of fibonacci extension. This is a double confirmation. Maybe a tripple confirmation if we include the typical correction chart construction after a hard rising market (take a look at my bitcoin comparison to 2014)
This is maybe the last downmove before rising. Good luck!
This is maybe the last downmove before rising. Good luck!
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We are now in target zone, lets see what will happen. With a clean break throught the neckline at around 1.60 USD we will energize more downpotential to the marked zone at 0.65 USD. Less likely, but second option, we will go higher until 2 USD and then fall.
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big move forewards after that bearflag
big move forewards after that bearflag
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If we break 1.63 USD, we could see a waterfall.