IOTA Whacked

IOTA has definitely broken its ranging streak, unfortunately to the downside. We have smashed through levels in the $3 handle, to find support in the lower $2 handle, a Fibonacci level at $2.12 to be specific. It still appears that we are in wave 2, a minor corrective segment of the Elliott Wave. We must reconsider our rendition of the corrective phase if IOTA can manage to blast through to the $1 handle and make new relative lows. Fibonacci levels at $3.25 ad $4.36 seem light years away at this point.

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