Hey guys, as you have seen on my previous IOTA forecasts my bias has been quite bullish BUT - the current price action might be indicating that IOTUSD might start a 50% correction, completing wave C.
In the mid to long-term I'm still VERY bullish on IOTA. The price action speaks for itself. Furthermore, Bitcoin Futures will launch probably on 10th of December and I am expecting a HEAVY correction on the whole cryptomarket in the next days-two weeks.
I might be wrong but the implementation of the Bitcoin Futures in the next days - plus a not that satisfying price action tell me I should take a break till the picture becomes clearer.
Institutional investors NEVER buy on all time highs, so if you would be the CEO of Goldman, JP Morgan, etc. what would you do? The recent hype about the Bitcoin CME makes newbies overenthusiastic and drives the fear of missing out. However, IOTA has been very resistant to the recent price drop in the cryptomarket few days ago. So, I do believe that the bigger correction will come to an end at the marked zone around 2.35-1.98. From this level on, I am expecting IOTA to skyrocket again.
Cheers
In the mid to long-term I'm still VERY bullish on IOTA. The price action speaks for itself. Furthermore, Bitcoin Futures will launch probably on 10th of December and I am expecting a HEAVY correction on the whole cryptomarket in the next days-two weeks.
I might be wrong but the implementation of the Bitcoin Futures in the next days - plus a not that satisfying price action tell me I should take a break till the picture becomes clearer.
Institutional investors NEVER buy on all time highs, so if you would be the CEO of Goldman, JP Morgan, etc. what would you do? The recent hype about the Bitcoin CME makes newbies overenthusiastic and drives the fear of missing out. However, IOTA has been very resistant to the recent price drop in the cryptomarket few days ago. So, I do believe that the bigger correction will come to an end at the marked zone around 2.35-1.98. From this level on, I am expecting IOTA to skyrocket again.
Cheers
Commentaire:
Dismiss the bearish bias from my previous analysis. I'm currently clearly bullish. Targets around $8.00
Get ready for IOTA to skyrocket