IOTA - potential head & should pattern

I am a big fan of IOTA.

With contrarian thinking and some luck it became my largest position in crypto right at the low five weeks ago.

Now that prices are up sevenfold I am getting cautious.

IOTA is moving fast and might form a bearish Head & Shoulder pattern here.

I am not selling one single IOTA but have hedged my position and plan to aggressively buy more between 0.50- 0.63 USD.

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Although IOTA moved to 1.03 USD I think the pattern has gained a lot of probability by now ... :-)
A break below 0.77 USD will be the final confirmation

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I just updated my math.. IOTA could move to as low as 0.41 USD. That would be the correct target out of this H&S pattern..

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The potential H&S-pattern is becoming more and more likely. All that is missing is a decisive break below 0.76. Probably prices below 0.81 could already trigger the expected selloff..
But so far bulls are coming back holding IOTA above that level..
Let´s see. Patience is king.
I remain fully hedged and will start closing my hedge + scaling into new longs below 0.60. New price target reminds 0.41-0.50 ...
REMAIN PATIENT and buy the coming dip.

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Here we are !!

Hedges fully covered below 0.50 and aggressive scale in buy orders executed between 0.47 and 0.39 !!! Great setup.. very oversold
Now is the time to add more IOTA

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New analysis: