Hi All, Icon ICX Analysis: Using a Swing Trader Mentality.
Uptrend to 0.0002326 or Downtrend to 0.0001800... 60/40 split: Reversal to Target#1 0.0002336 & Target#2 0.0002790 ICXBTC has broken its Solid Support @ 0.0002056, Freefall to ICXBTC : DownTrend...
Traders are risk managers and should preserve our capital... I'm a firm believer in the ICXBTC project and these are great entry prices... This is not Financial advice...
Always have a checklist before entering any trade: Long or Short... 1. The Trade setup 2. The Entry 3. Initial Stop Loss 4. Exit and Trailing Stop 5. Capital size willing to risk
No Objectivity or Emotions when trading... There are only three trend which could occur within any market... Individual Traders focus too much on trend-line... Instead of the overall trend in conjunction with the market sentiment...
What I look for before entering any trade: Uptrend: Higher highs and Higher lows Downtrend: Lower highs and lower lows No Trend: Horizontal or sideway pattern
Keep in Mind when trading: Not to be greedy: Use Trailing Stop Loss... 3-5 Bar Declines: it's an indicator to - Buy 3-5 Bar Increase: it's an indicator to - Sell
Don't forget why you got into the crypto sphere... Only Buy Pull Backs in projects you believe in for the next 5yrs: Long... Majority of investors are going to sell when they break even: Short...
I firmly believe ICXBTC will make higher high on it's all time high...
Hope this chart was helpful to you all. If you all have questions feel free to ask or comment in the comment section below. Be sure to Follow me and like this post if it was helpful, and thank you all...
Like the Phoenix we will rise from the ashes... Happy trading People...
Comment
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Weekly chart shows bearish. However, there maybe a reseveral on the Horizon for ICX
What do u think? Going above 20,000 or shooting below 18,000 over the next week?
letsgetit
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@RobJay, It's all in the chart. ICX Trading within the channel.
The Bears currently control ICX market. I'm still Long on the position.
RobJay
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@letsgetit, I agree, it's gonna stay roughly 10-30% above a dollar (so $1.20-130) but it's going to lose Satoshi value.
I think it'll stay around $1.30 - losing Satoshi value for a day or so more ebefore we see a full.scale exodus from alts to BTC which will propel BTC close to $10,000
From there we may get an alt-coin party or a huge BTC drop. Probably a BTC drop, causing another altcoin exodus, followed by an altcoin party.
I see ICX eventually going below a USD
letsgetit
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@RobJay,
You are right, trades are Propping up the BTC price By selling off Alts.
However, One thing I would like for you to consider is that, Some Maybe moving into fiat if BTC does hit 10k.
I wouldn't necessarily worry about ICX Price in a short term, Always use a stop loss
letsgetit
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@letsgetit,
Every Alts is losing Satoshi value mainly because of the sell off into BTC.
Which is Propping up BTC increased value from 6200 to current 7724.
Once traders move into Fiat or Alts, then the Satoshi value may increase, key word there is MAY.