If we ended C wave at $1.7, then It means that we have started our new 5 wave cycle.
If not then we will come down to .618FIB region as our possible final target for retracement before going up.
The pitchfork I've put on in this pic is showing the upward trajectory and the channel it's following.
We don't really need to worry about it going down until it breaks out of the pitchfork, when that happens we'll be looking at target 1 and 2 to see where is the possibility of it landing towards.
Until then I'm long on IOTA and if it does come down to .618FIB or .65FIB, I would be adding more to my position.
All of the above is of course related to Bitcoin's movements but, the levels I've shown below are complimenting Bitcoins movements. So if Bitcoin does fall towards .618 we can expect IOTA to do the same.
That's all for now, More info coming soon.
Play it safe and always place a stop loss.
@VARUNPAHERWAR
