ICXBTC Needs To Fall Before It Will Rise Again [Don't Panic!]

The price here will find support at three different levels. From the bottom up, we see first the support zone level 2 going far back. Then we have support zone level 1 a little bit more nearby, with a confirmation very recently.

However, when we look at the descending triangle we can see a negative momentum where the support is weakening. Also ICX seems to be in an overall downtrend. I expect that the top two supports will break, but that it will find true support at the Support Level 2, after which it will gain in momentum again.

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!

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Comment:

This analysis is playing out really nicely, but everything happened a bit faster than I expected

Comment:

here you can see the updated chart. Level 2 support has been hit already and resulted in a very strong rejection. So far we've seen a strong bullish uptrend after the support zone was reached.