ICON seem to have found the bottom at btc 0.0002 area. Since 14th of June price has been slowly but steadily moving upwards, producing higher highs and higher lows.
While rising, on a correctional wave down ICX/BTC rejected the 2/1 Gann Fan trendline along with the 50% Fibonacci retracement level at btc 0.000215.
Icon has approached the 200 Moving Average, but failed to reach it. It is highly likely that on the next wave up, the Moving Average will be reached, the question is whether it will be broken or rejected.
If broken ICX should continue going higher towards either 61.8% or 76.4% Fibonacci retracement level. But, if Moving Average will be rejected, Icon might correct down, perhaps to test the btc 0.000215 support yet again.
While rising, on a correctional wave down ICX/BTC rejected the 2/1 Gann Fan trendline along with the 50% Fibonacci retracement level at btc 0.000215.
Icon has approached the 200 Moving Average, but failed to reach it. It is highly likely that on the next wave up, the Moving Average will be reached, the question is whether it will be broken or rejected.
If broken ICX should continue going higher towards either 61.8% or 76.4% Fibonacci retracement level. But, if Moving Average will be rejected, Icon might correct down, perhaps to test the btc 0.000215 support yet again.
Trade closed: target reached