Hello everyone and welcome to this analysis on
ICXBTC
.
Last day's trade on
IOTABTC
proved itself successful. Let's carry on with the same strategy.
Reminder on EMA crossing strategy:
-RSI under 70
-EMA 26 crosses EMA 52
-Low volume on MACD (optional)
-4 hours chart
As you can see the technical tool that I am using and has been rewarding to me is based on the EMA 52,26,12. A crossover of the EMA 52 and 26 is a sign of a beginning of a trend. In this case you can see that the EMA 26 has crossed the EMA 52 representing a start of a bullish short to mid term trend upward. Although the crossover was made few hours ago, it still confirms the start of a bullish pattern.
In order to find an entry, you can switch the timeframe of the chart to 1 hour and then 15 min. That will help you determine a momentum for an entry point. Here if you take the 15 min chart you will see that we are about to have a bullish crossover on the MACD which is usually what I use to assess whether it is a good time to get in.
Aggressive approach:
Long at market
Stop loss just under EMA 52 on the 1 hour chart
Take profit under resistance level (dotted yellow line)
Conservative approach:
Long at EMA 12 on the 4 hour chart
Stop loss just under EMA 52 on the 1 hour chart
Take profit under resistance level (dotted yellow line)
**This is my set up and I am sharing that with you for educational purpose. This isn't, in any case, financial advice.**
ICXBTC
. Last day's trade on
IOTABTC
proved itself successful. Let's carry on with the same strategy. Reminder on EMA crossing strategy:
-RSI under 70
-EMA 26 crosses EMA 52
-Low volume on MACD (optional)
-4 hours chart
As you can see the technical tool that I am using and has been rewarding to me is based on the EMA 52,26,12. A crossover of the EMA 52 and 26 is a sign of a beginning of a trend. In this case you can see that the EMA 26 has crossed the EMA 52 representing a start of a bullish short to mid term trend upward. Although the crossover was made few hours ago, it still confirms the start of a bullish pattern.
In order to find an entry, you can switch the timeframe of the chart to 1 hour and then 15 min. That will help you determine a momentum for an entry point. Here if you take the 15 min chart you will see that we are about to have a bullish crossover on the MACD which is usually what I use to assess whether it is a good time to get in.
Aggressive approach:
Long at market
Stop loss just under EMA 52 on the 1 hour chart
Take profit under resistance level (dotted yellow line)
Conservative approach:
Long at EMA 12 on the 4 hour chart
Stop loss just under EMA 52 on the 1 hour chart
Take profit under resistance level (dotted yellow line)
**This is my set up and I am sharing that with you for educational purpose. This isn't, in any case, financial advice.**
Comment:
History shows that ICX is showing itself not resilient to a spike in price of BTC. Closed my longs at a -0.70% loss.
Comment:
I recommend trading against USD when BTC spikes.