Regera

Cup and handle but will it break through major resistance?

BINANCE:ICXBTC   ICON / Bitcoin
MACD is indicating bullish , cup and handle formation is ideal and volume looks to be picking up. On the other hand, RSI has a bearish divergence and both the short and long term Fibs show major overhead resistance around 4880.
Trade closed manually: There's a strong evening doji on the 480 that closes in 30 minutes. With a possible BTC correction it is looking like a pullback before moving upward. The safe play is to close out then wait and see.
Trade active: BTC pulled back to $8700, ICX dipped under 4000 which was very close to the red dotted retrace to the Fib's 3850. Big news dropped on the rebound and ICX is surging
Comment: Strong resistance is still present at the 4700-4900 level. As new lows continue to hold higher and higher after it retests resistance, it forms a bullish ascending triangle and a breakthrough to 5901-6000 is the next target.
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