There is my analysis of the current situation on ICXBTC .
1. The local trend -> downtrend
2. Divergence in point A and C -> bearish
Scenario 1 – my current
We are going to point D, somewhere about 2857, but it is also possible to land only on the level 2996 – 3016 (strong level AB = CD). The formation XABCD is bullish , so from point D the uptrend should start.
Scenario 2 – an alternative option
If scenario 1 is wrong, and we are going up, confirmation of the uptrend will take place when a candle will be closed above 4651.
There is not any financial advice, just my two scenarios.
1. The local trend -> downtrend
2. Divergence in point A and C -> bearish
Scenario 1 – my current
We are going to point D, somewhere about 2857, but it is also possible to land only on the level 2996 – 3016 (strong level AB = CD). The formation XABCD is bullish , so from point D the uptrend should start.
Scenario 2 – an alternative option
If scenario 1 is wrong, and we are going up, confirmation of the uptrend will take place when a candle will be closed above 4651.
There is not any financial advice, just my two scenarios.
Comment:
The scenario 1 is still valid. The price is close to 0.00002996, which could be the point to go up. But we need confirmation.
Comment:
The price is on the strong level (AB = CD), but there is not any signal for going up now.
From this point I plan to monitor two levels:
1. 0,00002857 is the price is still going down
2. 0,00003165 is the price will go up
There is not any financial advice, I'm just sharing my idea.
From this point I plan to monitor two levels:
1. 0,00002857 is the price is still going down
2. 0,00003165 is the price will go up
There is not any financial advice, I'm just sharing my idea.
Comment:
The level 1.272 was verified twice and now there is the move towards the top of the channel.