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IOTABTC - Breaking the Silence (?)

IOTABTC on 4-hr Chart. Just sharing my thoughts on the possible next move....
Please do not use this as a recommendation to go into a trade. If you want please go into the details of the TA by yourself. Everything now depends a lot on BTC and Market Sentiment. We have seen so many impulse waves get shortened after the 3rd because there simply isn't enough volume for buyers to push. As a result the impulse becomes a failure wave frequently by Ending Diagonal and the Elliot Wave count is invalidated causing it instead to become an extended correction usually into a Triangle or Wedge pattern.
Please note : It is now in between the 0.786 and 0.618 so very likely this is still in a corrective move although it appears as an impulse 1st wave at this point in time.
Please do not use this as a recommendation to go into a trade. If you want please go into the details of the TA by yourself. Everything now depends a lot on BTC and Market Sentiment. We have seen so many impulse waves get shortened after the 3rd because there simply isn't enough volume for buyers to push. As a result the impulse becomes a failure wave frequently by Ending Diagonal and the Elliot Wave count is invalidated causing it instead to become an extended correction usually into a Triangle or Wedge pattern.
Please note : It is now in between the 0.786 and 0.618 so very likely this is still in a corrective move although it appears as an impulse 1st wave at this point in time.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.