Hey guys, it's been a while since i've been busy with studies and such. Current status is looking alot more complex, i'm not convinced what will happen as I can see multiple scenarios, but we do see something positive being formed. My last post about ICON was that we've seen the bottom. After that we pumped to $0.95 so to some extent we have. However anything is possible in Crypto and predicting the long term is complex currently.
My number 1 target is that we repeat this cup and handle pattern. If that happens i'm going to look at the 1600 sats level before we see a small sell-off. This is the absolute short term based on activity, market analysis.
My number two target is probably the safe bet assuming we follow the bullish trendline i've pictured. It will take a little more hodl and i'd probably expect entire september to be bullish after this massacre we've seen. Assuming the entire September month is bullish we would probably be looking at 1600 sats aswell at the end of that month. Assuming we have that kind of steady growth we Might accelerate and ignore the bullish trendline and just moon to crazy levels which is impossible to guess and is highly dependant on hype.
IF we break this bullish trendline that's currently being formed i'm going back to being bearish/sideways movement, I don't see it likely happening but it's a possibility. Sorry for not making as clear prediction right now, I just don't feel safe betting bear/bull when we haven't seen consistently activity yet. This is a risky bet, if you want to stay on the safe level I would suggest you to wait and see if the bullish trendline holds, if it doesn't then like I said we'll probably be back to the blood - Might even set a new low at $0.30, who knows how low that could be.
When it comes to fundamental news we've seen ICON pumping out massive bullish news that haven't really pushed the price at all since we're clearly seeing manipulating and suppressing on the price - Instead we see Dogecoin pumping. Some news that I personally consider important is the $5m in ICX Buyback program which will provide ICON with massive support and confidence. This is mainly why i'm bullish right now. We also see dApps starting to launch on the network so overall the long term is looking really bullish to me. However that doesn't mean we won't see the bear. I said in an earlier post that i'm expecting crypto to go sideways for around 2 years (based on historical chart movements) after the last bullmarket. I still stand by that point for crypto in general but we did see Ether for instance pumping to $35 Billion in early 2017 before the massive bullmarket came by. So it's a strong possbility ICON might pump to atleast half that market cap in 2019. That being said if the technology is to be available by then.
My Portfolio: I would like to be transparent and let you guys know i've accumulated most of my tokens at $.60. It wasn't perfect and I did doubt my predictions. My most recent Buy-in has been a few days ago at $0.68 before we formed a cup and handle and rushed to higher levels. I do want to clarify, I haven't been perfect trading ICX either: I bought some tokens at $9 dollars during the hype, since then i've realised we're in the blood and I have DCA'd my average alot. I've changed my strategy to be more critical. I hope you prefer me being honest instead of only talking about my good trades :).
I was told to setup a Donation Address, it's obviously not mandatory but would definitely encourage me to put more time & effort into this hobby: Providing you guys with more consistent activity & chart analysis.
ICX - hx6601d72a45f173681a9122b74352d46cf8d00e87
Thanks and enjoy the rest of the weekend!
P.S: Should I keep using BB-Code (Bold text to highlight keywords) to make it easier to read?
Disclaimer: This is not financial trading advice and I will not be responsible for any funds lost. I'm doing this out of enjoyment and as a hobby. I do not want to be considered a proffesional in any form. Thanks.
My number 1 target is that we repeat this cup and handle pattern. If that happens i'm going to look at the 1600 sats level before we see a small sell-off. This is the absolute short term based on activity, market analysis.
My number two target is probably the safe bet assuming we follow the bullish trendline i've pictured. It will take a little more hodl and i'd probably expect entire september to be bullish after this massacre we've seen. Assuming the entire September month is bullish we would probably be looking at 1600 sats aswell at the end of that month. Assuming we have that kind of steady growth we Might accelerate and ignore the bullish trendline and just moon to crazy levels which is impossible to guess and is highly dependant on hype.
IF we break this bullish trendline that's currently being formed i'm going back to being bearish/sideways movement, I don't see it likely happening but it's a possibility. Sorry for not making as clear prediction right now, I just don't feel safe betting bear/bull when we haven't seen consistently activity yet. This is a risky bet, if you want to stay on the safe level I would suggest you to wait and see if the bullish trendline holds, if it doesn't then like I said we'll probably be back to the blood - Might even set a new low at $0.30, who knows how low that could be.
When it comes to fundamental news we've seen ICON pumping out massive bullish news that haven't really pushed the price at all since we're clearly seeing manipulating and suppressing on the price - Instead we see Dogecoin pumping. Some news that I personally consider important is the $5m in ICX Buyback program which will provide ICON with massive support and confidence. This is mainly why i'm bullish right now. We also see dApps starting to launch on the network so overall the long term is looking really bullish to me. However that doesn't mean we won't see the bear. I said in an earlier post that i'm expecting crypto to go sideways for around 2 years (based on historical chart movements) after the last bullmarket. I still stand by that point for crypto in general but we did see Ether for instance pumping to $35 Billion in early 2017 before the massive bullmarket came by. So it's a strong possbility ICON might pump to atleast half that market cap in 2019. That being said if the technology is to be available by then.
My Portfolio: I would like to be transparent and let you guys know i've accumulated most of my tokens at $.60. It wasn't perfect and I did doubt my predictions. My most recent Buy-in has been a few days ago at $0.68 before we formed a cup and handle and rushed to higher levels. I do want to clarify, I haven't been perfect trading ICX either: I bought some tokens at $9 dollars during the hype, since then i've realised we're in the blood and I have DCA'd my average alot. I've changed my strategy to be more critical. I hope you prefer me being honest instead of only talking about my good trades :).
I was told to setup a Donation Address, it's obviously not mandatory but would definitely encourage me to put more time & effort into this hobby: Providing you guys with more consistent activity & chart analysis.
ICX - hx6601d72a45f173681a9122b74352d46cf8d00e87
Thanks and enjoy the rest of the weekend!
P.S: Should I keep using BB-Code (Bold text to highlight keywords) to make it easier to read?
Disclaimer: This is not financial trading advice and I will not be responsible for any funds lost. I'm doing this out of enjoyment and as a hobby. I do not want to be considered a proffesional in any form. Thanks.
