IOTA - Internet Of Things blockchain - Tangle Technology - Chart Analysis
Today - Sat Jan, 13th 2018
A look at the IOTA:BTC chart on Binance using the fibonacci retracement and pitch fork tools at https://www.tradingview.com/chart/tWnyckIg/ where you can play around with your own charts for free.
IOTA is an open-source distributed ledger focused on providing secure communications and payments between machines on the Internet of Things using directed acyclic graph (DAG) technology instead of the traditional blockchain, IOTA's transactions are free regardless of the size of the transaction, confirmation times are fast, the number of transactions the system can handle simultaneously is unlimited, and the system can easily scale.
IOTA was founded in 2015 by David Sønstebø, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov.
IOTA has a collaboration with Deutsche Telekom, Microsoft, and Fujitsu, the Foundation opened up a data marketplace using IOTA technology.
October to January
We can identify a repetitive ABC correction and 5 wave impulse structure followed by a 61% retracement.
The corrective phase seems to be consolidating around the 50%, or the .5 level of the wave pattern based on the fib chart, that's a good thing. It's more than likely IOTA has found support relatively close to this price.
We have some major resistance at $4.55 and support at $3.20, keep your eye on the gridded area. A break above could be a good entry.
If the uptrend plays out and we pass all time highs the fib charts forecast a $10.19, $15.92 and $21.65 IOTA
https://coinmarketcap.com/currencies/iota/
https://twitter.com/iotatoken?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
https://iota.org/
https://blog.iota.org/
https://www.reddit.com/r/Iota/
This is not investment advice.