bitdoctor

ICON (ICX) - Looks so bad. Turnaround on the horizon?

Short
BINANCE:ICXBTC   ICON / Bitcoin
Not financial advice. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk.

I'll keep this one fairly short and sweet as it looks like the ADA chart (but worse). We're trading in the lowest zone than it ever has and the resistance at about 550 (where the previous low was last year) broke. There's a lot of believers in this project but I don't give any kind of prejudice to how much merit a project has. The chart is my story and it's all I need.

1. We're below all major moving averages on the daily
2. We got rejected at some important moving averages in recent days.
3. It's in the lowest trading range... ever...

All in all, I do not suggest buying ICX at this time. Not until it can overtake 500 and close a 1D or 3D timeframe above it. Only then would I look to see an upside target of ~600 (which is a 20% profit potential)

Trade safely friends!
<3 -CE-
The BitDoctor Team
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