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IOSTBTC: Possible Buy Zone around 626

BINANCE:IOSTBTC   IOST / Bitcoin
Approaching final set of known lower restraints after the huge drop by IOST post listing.

Initial move up, but has since been tumbling through 5 waves followed by ABC consolidations sideways, before the trend continues.

Trend lines converging on around 626 sats , which could indicate a good buy zone with a chance of consolidation breaking the trend down. However, strong risk as the trend is still only a few days old and hard to tell whether the trend could continue to a new ATL - a risky play however could provide a great in price at around 7cents, when combined with tight stop loss triggers.

Opinion not advice

Comments welcome - 1B2rBfu9X4nms6EtuQWDQuNy87Jn9hYkJs for bitcoin 3.37% 2.50% donations if you find this helps, and want to spread the love!
Jan 29
Comment: Wave identified but extended below the 626 restraint. Stop loss kicked in, and bought back in at the lower restraint.

Really volatile right now and displaying unusual behaviour, with significant volume of downward buys forcing down any opportunity to consolidate. However, this may be due to buyers waiting on a clear correction before jumping in - IOST seems to have a good team and interesting concept, so I imagine the majority of people are looking at this as more of a long term hold than a pump and dump, which is why buyers are staying clear until the price settles to get the best value in.

Possible correction with some decent buy volume, but this could be a simple ABC correction up/shallow 5 wave, followed by a continuation of the trend, especially if we see a neck or double head form in the third or 5th wave up.
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