MichaelvandePoppe
Long

ICON Trade Idea (20-70% Profits Possible)

BINANCE:ICXBTC   ICON / Bitcoin
ICX Small Trade Idea
What do we see on this timeframe?
- Bullish Pennant
- Green box around 50K sats             strong support
- in an uptrend
- possibly breaking out right now
- bollinger squeezing --> indicating we'll see some movement
- finished ABC correction possibly --> start of new Elliott Wave

Three scenario's:
- up to the 60k sats             area after breaking out, but not finding enough volume and support for breaking it, then we'll go sideways and make a bullish rectangle out of this
- breaking out, continue the elliott waves --> in that sense lower target zones
- not getting enough volume , retesting the green trendline at the bottom --> less likely

Target areas ST:
1: 55K sats            
2: 60K sats            
3: 65K sats            

Target areas a little longer:
1: 60K sats            
2: 70K sats            
3: 82.5-85K sats            
Comment: Dropped out of this pennant, let's see whether we can get the 47K area again as support. Seems like this action happend due to the Bitcoin drop and in this case we'll be going scenario 3.
Did you copy this straight off of another post, or vice versa?
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