SUMMARY
After a 135% profit on IOTA following IOTA recommendation at $0.34; it is doing a well deserved and healthy correction.
The below shows the most bullish scenario but NOT my primary count. Remember the "Hurry Up & Wait" syndrome! Cryptos never rush or complete their corrections quickly . It always takes a long time or at least much longer than the impulse wave run.
Below would befit a better Hurry Up & Wait scenario. Therefore, it's likely that red wave b is in progress and then a lower low for red wave c. Still, the destination remains the same at $1.19.
IOT/BTC pair is also quite bullish. I believe the a,b,c correction is complete and wave 1 of an impulse has taken place as shown below. Once wave 2 is complete, price will leap towards 0.000386 BTC.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
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LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
thx for update, made some good money at IOTA and like the tech behind it.
Hi Haejin, it would be very much appreciated if could provide an update of your thoughts on IOTA and perform a longer term elliott wave price projection on IOTA's log chart as you have done with Bitshares. Many thanks in advance for your analysis!!
Hi Haejin, same wish with the guy above, please give us some thoughts on IOTA in longer terms, it's so freaking insane right now.
Many many thanks!
I agree. IOTA has been moving vertical and making insane gains over a very short period of time, though its log chart doesn't appear to show longer term profit potential like bitshares does, but I would defer to Haejin's expert views on this. Look forward to hearing from Haejin!
Technical analysis is worthless, IOTA now 3$ :)