Icon - Testing Downtrend from July '18 (ICXBTC)
Liking this setup here for ICON (ICXBTC) for a mid~long term play if we can break trend.
We are currently testing a daily downtrend from JULY of last year and are 98% down (jesus) from all time high in BTC. This has been one of the worst performers in the alt coin bear market and could finally be ready to turn it around. This one can be a slow mover so I would enter this trade with a longer term mindset.
Entry: Daily close over trend line (195~200 area)
Stop: 4~5% from entry
Targets :
240 (short-term)
286 (mid-term)
404
490
Good luck!
BTC Tips: 3KKD7YKR7x9c4AZJJ56XJA8F3hp7hWSpTX
RVN Tips: RPtFfvxZAdBwNdQpG1jMwEnxhviCwkkcoJ
We are currently testing a daily downtrend from JULY of last year and are 98% down (jesus) from all time high in BTC. This has been one of the worst performers in the alt coin bear market and could finally be ready to turn it around. This one can be a slow mover so I would enter this trade with a longer term mindset.
Entry: Daily close over trend line (195~200 area)
Stop: 4~5% from entry
Targets :
240 (short-term)
286 (mid-term)
404
490
Good luck!
BTC Tips: 3KKD7YKR7x9c4AZJJ56XJA8F3hp7hWSpTX
RVN Tips: RPtFfvxZAdBwNdQpG1jMwEnxhviCwkkcoJ
Comment:
Successfully broke downtrend and backtested the trend line, but not quite the breakout we were hoping for. Uptrend still in tact, would like to look for a close over 198 for entry.