ICON #ICXBTC - might move up 50% or more!
ELLIOTT WAVE ANALYSIS:
The price of the ICX cryptocurrency quoted for Bitcoin ICXBTC moves in a very technical manner at a four-hour interval. The price has already formed the first wave of the ZygZak double structure, the W wave, at 0.0008686, which will now be the technical resistance for further increases. The X-wave connector was also made, with a well at 0.0005309. The upward movement in wave A pushed the price above the golden trend line, and the internal correction of the B wave tested this outburst.
Currently, the market is in the process of creating the last wave of growth C, which should break the W wave peaks at 0.0008685 and go towards the levels of 0.0009730 - 0.001050.
In addition, the price continues to move forward in the parallel channel and every attempt to break the price from the channel is defended by demand.
The increase in volume during upward movements confirms the bullish scenario. Only breaking the 0.0005309 level will be the first sign of a trend reversal.
TREND and IMPORTANT LEVELS:
Main trend: UP
Intermediate trend: UP
Daily trend: UP (continuation of the trend and the possibility of breaking higher after adjustment)
KEY LEVELS:
- for further increases - level 0.0008450
- for continuing correction - level 0.0006589
- for the continuation of declines - level 0.0005309
PS: Be sure to add me to the watchers!
PPS: The next analysis of the next cryptocurrency will be published, if this post receives a min. 100 likes. :)
The price of the ICX cryptocurrency quoted for Bitcoin ICXBTC moves in a very technical manner at a four-hour interval. The price has already formed the first wave of the ZygZak double structure, the W wave, at 0.0008686, which will now be the technical resistance for further increases. The X-wave connector was also made, with a well at 0.0005309. The upward movement in wave A pushed the price above the golden trend line, and the internal correction of the B wave tested this outburst.
Currently, the market is in the process of creating the last wave of growth C, which should break the W wave peaks at 0.0008685 and go towards the levels of 0.0009730 - 0.001050.
In addition, the price continues to move forward in the parallel channel and every attempt to break the price from the channel is defended by demand.
The increase in volume during upward movements confirms the bullish scenario. Only breaking the 0.0005309 level will be the first sign of a trend reversal.
TREND and IMPORTANT LEVELS:
Main trend: UP
Intermediate trend: UP
Daily trend: UP (continuation of the trend and the possibility of breaking higher after adjustment)
KEY LEVELS:
- for further increases - level 0.0008450
- for continuing correction - level 0.0006589
- for the continuation of declines - level 0.0005309
PS: Be sure to add me to the watchers!
PPS: The next analysis of the next cryptocurrency will be published, if this post receives a min. 100 likes. :)
Trade active:
The price has made the top at the level of 9240 and then another five waves down occurred. The bottom was made at the level of 4303 and wave B was possibly completed. Currently, the market might be still developing wave B into more complex correction or it might break down towards the level of 4550 and then 4303 and lower. The targets for wave C are 2841 and 780.
