IOTA: Another Prediction Validated

We've been on a roll lately with our prediction accuracy for cryptocurrencies. We were certainly correct in identifying the rout that has underpinned IOTA for almost the entirety of 2018. It does appear we were a bit too ambitious with our final target to the downside at 0.3440, which corresponds to our lower Fibonacci anchor. However, the price did hit our first profit target exactly as we've identified it. Indeed, as promised, IOTA collapsed down to 0.495, the 0.236 Fibonacci level.

Our outlook on IOTA is still bearish, though we do anticipate some ranging or even a retracement before the bear momentum continues. Long term, we hold true to our prediction. Upon reaching our final price target, we should anticipate a buyback, which may take us back to P1. If we can muster the energy to reach 0.6641, the 50% Fibonacci level, we can safely call this bear run over (for a while), but there is little indication of that happening any time soon.

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