IOTA, ABC/ABCDE triangle correction soon over

in #iota7 years ago

I have called out that IOTA needs a good correction on my twitter several times when it was flying to highs of 5.5$. Personally I sold most at 3.9$, just watched the price flew up, and bought the dip at 3.1$. Now we are seing a powerful triangle closing in. These triangles have made me a killing before, and I used the same technique to buy IOTA at .33$. This ABCDE pattern isnt new, I have posted it on my twitter before, but now there are some small adjustments.

What we are seeing in the picture below, is a Elliott wave count. The first Elliott went from 0.20ish up to a high of 1.1$. Then retraced back to .30cent (elliott count 2). Then making a breakout after forming a triangle pattern. Breakout reached a high of 5.5$ (elliott count 3). And now we are in the correction fase (elliott count 4). When Elliott count four is over there is almost a 100% guarantee we will se new all time highs. Its also good to note that the fact Elliott count 2 lasted so long, Elliott count four will be much sharper and wont last nearly as long. This further adds evidence to my prediction.

I have tweeted about this for a while now, and this post is pretty much a summery of what my tweets have been saying, also some adjustments to the charts.

Skjermbilde 2017-12-16 kl. 01.18.34.png

Now if we zoom inn a little bit on the Elliott wave count four, we notice a beautiful ABCDE correction that makes a perfect triangle. Two of our buy targets have already been executed, so to all off you who didnt get on the train there is still a small window to buy before the train leaves to the moon. (Buy levels marked with a yellow circle)

Skjermbilde 2017-12-16 kl. 01.23.58.png

There is a small possibility that the ABCDE correction turns into an ABC. If this happens we will se a breakdown from the triangle and the price correcting even lower then anticipated. This is not so likely to happen, but if it did, remember our Elliott wave 5 is still coming, and the price will more up.

We also get confirmation that the price is getting ready to jump from the RSI closing in on normal levels after going parabolic.

Skjermbilde 2017-12-16 kl. 01.41.31.png

How will I trade this? Well, I already have a LOT of IOTA laying so I prob wont add to much. There will be some small buy levels put just to squeeze some extra cash out of this chart. I will prob also put down a huge margine trade. There will be countless trades we can do on Elliott 5. We can can buy each dip on the way up to maximize profits. We can also short when it nears the end and is ready for a dip. This is what I did with ETH yesterday, shorted like crazy, took home 2500$ in a couple of hours. Its all in my twitter, full transparency. The timeframe of where the breakout can take place is pretty much from now until end of triangle, the 26. December. Would be lovely to have this breakout in christmas eve.

I don´t except donations, but please share this steemit post if you liked it. Long term updates are both on my twitter and steemit, but short term only ends up in twitter, so make sure you follow. https://twitter.com/CryptoFaa

Keep in mind I am not a financial adviser. This is simply my Idea. Don´t invest more money then you are willing to lose!

Sort:  

Awesome post, what are you projecting it can make it to on the high and possible lows?

Hard to say, there will be a new updated post when wave 5 has started and its rising. Then I will have more data to find a more accurate point.

Jonas is looking for that nice Christmas Eve bonus from IOTA

Love your posts! You talk about shorting iota/eth, how do you do this?

I short using Bitfinex. I go to my margine account, and fill in how many shares (coins) I want to short, then I fill in the price I want to short them from and instead of pressing "margine buy" I press "margine sell"

Congratulations @cryptojonas! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You made your First Comment

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!