In my previous analysis I mentioned that IOTA is probably in wave "B".
Now as IOTA gained 40%, it started another smaller correction. As I mentioned previously, I thought it finished wave "A" and started wave "B", but "B" had 5 waves within. We know that wave "B" cant have 5 smaller waves, so I have to assume that "ABC" correction did actually ended earlier.
Now it's mine "plan 1". In "plan 2" we can be in extended wave "B", but time will tell which one is true.
IOTA is in minor correction and it still didnt finished wave "a".
For wave "c" target I would say that it will be around $1.42, as IOTA has strong support line there, and 88.60 Fibonacci level is also crossing that area.
IF $1.42 will be broken, it has strong support line at $1.34 and the strongest support line is at around $1.20 level.
That levels are to be watched if You want to take position in IOTA coin.
Right now on 4h chart, MACD is high and with crossed lines it started an downward move (trend change signal).
In my analysis I'm using Fibonacci Levels, Elliott Wave principles, Support and Resistance lines, Candle Patterns and formations, like Head and Shoulders or Triangles (latter more often than the former).
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