What we see in this chart is the IOTA correction, it had a beautiful run up from 30cent all the way up to 5+, and has been correcting pretty much since then. Considering the RSI
combined with a nice ABC
count i belive we are nearing the end of the correction. I have already bought a lot of IOTA, but I plan to buy much more if it gets to my buy zone. The 0.786 fib retracment lines perfectly with the first subwave in wave three, and also will act good as support for IOTA. Target is 9$-something.
What we need to look for is a divergence in the macd
as well as in the RSI
hitting the support and unable to break under. Volume
is increadibly week, so a pump in volume
would be good.
We also know that IOTA has been primed for breakout before but the bears took over, and I do belive this support is so strong that the bulls will easily take contorl.