IOStoken (IOST) Analysis Shows Correction Bottom Could be Near
SUMMARY
IOStoken (IOST/BTC) is one of those that started its genesis as a correction. The red ABC waves show that wave A was a rapid vertical decline and its subwaves are probably impossible to discern. Since the coin started as a correction, the B wave is a clear three wave as expected and the very long, drawn out C wave's subwaves are labeled.
In combining pattern with Elliott Waves, the completion of five subwaves of C provides confidence data that the bottom is likely placed. The symmetrical triangle (blue lines) also show price to be ready to start rising out of the contracting lines. From a bigger perspective, the white line shows what could be a Cup formation and likely 2/3 of it is already complete. IF so, then poisitioning the Elliott Impulse Waves (white) show how the right side of the Cup pattern could be finished. The height of the right side could reach 1,132 Satoshi.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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Increase from $1.76 to $2.27
for a second I thoought the symbol was lOST like LOST. This coin kinda sounds like a LOSER? Does @Haejin ever promote #ShitCoins?
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Welcome back mate....We are all here trying to learn and learn. Thanks.
Yep .. thanks 🙏🏼
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@haejin could you please take a look at Simple Token (OST)
Will do tonight.
This coin seems like a classic pump and dump..
No. A lot of coins start this way. Most coins actually.
I do not understand
well post for all steemit user.
thanks for shareing...
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Good analysis, I have a little understanding now.
thanks for the science.