SUMMARY
As requested, this IOTA update shows the corrective pathways from simple to complex. The simple can be seen below where the blue waves represent the direction of the final C wave. If so, the target could be $0.59. However, this abc correction seems overly simple for an Altcoin.
The slightly more complex, but time consuming would be an abcde triangle pattern. This means that the lower white support line needs to hold, an unlikely event should Bitcoin dip towards $8k.
The more complex correction would be in the form of a sideways price movement. This wxyxz triple combination type could meet the need for time and price extension of this correction while achieving a lower low should IOTA need to follow BTC.
Legal Disclaimer: 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.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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