ICXBTC - Bull flagging on the 61.80% retracement

To note: no long term channel has been established yet due to how new this coin is, meaning that there is risk involved dealing with it; akin to investing in a startup company. However, fundamentally ICX stands above most other new alt coins due to the sheer amount of partnerships they have.

MACD and RSI are looking alright and ICX is undervalued due to BTC value tanking. Breakout is yet to occur so a better entry can be found within the flag or above it for confirmation.


Looking good on the 12 hour chart. Dancing on top of the 61.80% retracement and has yet to break the 38.20% speed resistance fan.

Comment:

Actually, if BTC's parabolic movement out of its long term channel is any indication, ICX has established a channel but it's a bit messy.

Trade closed: target reached:

Profit pulled at second high, looking very similar to a double top.
Order completely closed after it broke the price trend in a convincing fashion.

Comment:

Consolidation phase under the POC. Expect price lower before breaks up or down.