Let's think something outrageous
Atualizado
Once IOTA hits the bottom of the channel in the second half of Feb in the log chart ( between $1 to 1.5) , three things could happen
1) It crashes through the bottom : Very likely ( 50% chance) given the current state of things . Get out of your trade positions , hold the long term positions
2) Crawls up the bottom of the channel for a few months : (45% chance)We get to something like $7-10/MIOTA and see where it goes from there. Not a bad return given how this year has started
3) It bounces to the top of the channel : (5% chance) There would need to be some great news - big partnership, new wallet, tangle stabilizing, co-ordinator removal etc etc. We cannot ignore the fact that every positive event in the last 2 months ( Bosch Investment, Netherlands and Taipei using Tangle, rebuttal to MIT Labs etc ) has been ignored by the market in increasing IOTA price. Karmic due for IOTA has built up in last 50 days. If only Bitcoin was more supportive.
1) It crashes through the bottom : Very likely ( 50% chance) given the current state of things . Get out of your trade positions , hold the long term positions
2) Crawls up the bottom of the channel for a few months : (45% chance)We get to something like $7-10/MIOTA and see where it goes from there. Not a bad return given how this year has started
3) It bounces to the top of the channel : (5% chance) There would need to be some great news - big partnership, new wallet, tangle stabilizing, co-ordinator removal etc etc. We cannot ignore the fact that every positive event in the last 2 months ( Bosch Investment, Netherlands and Taipei using Tangle, rebuttal to MIT Labs etc ) has been ignored by the market in increasing IOTA price. Karmic due for IOTA has built up in last 50 days. If only Bitcoin was more supportive.
Nota
Feb has ended and we have reached a critical point in IOTA's journey. So far the market has respected the lower trendline and the price has bounced of it a couple of times . With these new bounce points we can finally draw an accurate bottom trend line which wasn't possible earlier. My expectation would be that the price should graze the lower trendline in MArch as well [45% probability case ]Nota
Bottom line of the trend breached in the last few hours. If it continues like this we may see at least 1 more month of falling prices. next targets could be 1.2 or 1.0Nota
1.0 has not been breached yet. Till then some hope remains. It 1.0 is broken then we could go all the down to the starting level of November-December rally at 0.32. On the upside 1.65-1.75 is strong resistance now
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