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
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Get ready for IOTA to skyrocket
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Dismiss the bearish bias from my previous analysis. I'm currently clearly bullish. Targets around $8.00
Thank you, my fear is losing my money... I don't have a problem if I save my IOTAs for 2-3 months more
BudBronson
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@jevalenciap, Well than it might be better to hold. Out of all coins IOTA is my favourite and actually I'm very convinced that IOTA will reach $300 (whaat?!) in the next few years. Sounds crazy, I know. If you're not an experienced trader and have a job I would play it safe and deposit every month an amount you can afford to invest (and to lose - I have to say that :) in IOTA and maybe some other coins with great potential.
BudBronson
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@jevalenciap, ..that's just my personal opinion. I could be also wrong, so don't sell your house for pumping up your trading account:)
jevalenciap
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Hi, I am new on this, I have bought in USD$5, now I don't know what I have to do??... Please advice me
BudBronson
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@jevalenciap, Hey, sorry but I do not give investment/trading advices. There are two possibilities, it's just simple maths: Either you close your position now with an approx. 20 percent realized loss or you wait for the price to hit your entry region again and to even climb higher. If you're not trading on margin, you should not be worried about losing your money (in my opinion) as IOTA will be skyrocketing in 2018. The chart above displays just my personal bias and forecast. So I might be wrong - but if price proves me right - mathematically you would be able to buy with a 50% 'discount'. Long story short: In trading we never know exactly what will happen. I try to make sure to have two different scenarios and act based on confirmations. If I'm wrong, that's ok - If I'm right, great! The key is to minimize your risk, so that a human mistake won't wipe out your account. Cheers