IOTA Technical Analysis Shows Potential Correction Bottom Pathway

SUMMARY

So, IF Bitcoin (BTC) starts trend reversing up does this necessarily assure that the Altcoins will turn on the dime and do the same? Well, during the July and September 2017 corrections, there was a lag effect between BTC rend reversing and and the Altcoins. In fact, many Altcoins had continued to slightly lower lows while BTC was putting in higher highs. So, IOTA could do pretty much that by putting in a lower low at around $1.07 or so evenwhile BTC rises in a bull run. The below chart shows how IOTA carved out five wave impulse move up which was followed by a retracement. The current correction is near complete based on Elliott Wave mapping.

The EW closeup shows ABC Flat (3,3,5) in progress. The final C wave is marked by the blue ipulse five which shows tha 1,2,3,4 are placed and 5 is currently in progress. The target of $1.07 would make a slightly lower low but enough to cause price to become more proximal to the Apex which would give a better trend reversal setup potential.

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