Looking at IOTA it appears there was a clear reversal with the Double Bottom
. Wave 1 starts immediately after the Double Bottom
is confirmed. Wave 1 is roughly the value from the top of the Neckline on the double bottom
to the bottom of the double bottom
(6 -8 cents). Wave 2 clearly retraces to the 61.8 of Wave 1 on the Fibonacci. This should put Wave 3 in the 60 cent area. Expect Wave 3 to extend (since this is the usually the wave that does extend). We might see the first pump stop around the top of Wave 1, extend, then continue it way up to the 60 cent mark.