IOTA in a bearish pennant

IOTA is continuing its trip to the downside. The move that started around 0.0002850 has brought the coin all the way to 0.0000790. The coin also pushed through the 127.2% extension support and it has consolidated below that support since the initial break occurred. Moreover, the price action has created a bear pennant that has consolidated the price within a wedge. The wedge is now close to break and we are strongly favoring the continuation of the downside move. The bear pennant setup should bring the price action below the next key Fibbo support 161.8% around 0.000030.