ICXUSD - Quack, Quack, Quack, Mr. Ducksworth

BINANCE:ICXUSD   ICON / US Dollar (calculated by TradingView)
Hello Crypto Fam , we're checking back in with ICX to see where it's looking to go. There's been a small bull run the past few days as we see everyone buying back the the recent dip that everyone is attributing to the MT Gox Sell Off. Not sure if that's enough to blame for the complete sell off, but everyone has to point at something when the market goes in a particular direction right?? Anyway let's check out how ICX is doing.

If you looked at out previous post on ICX, we confirmed it was still in our downtrend channel marked in our red lines on the chart.
We're waiting to see if it can break out of the red lines to begin a reversal. Take a look at the MACD and note as always we need momentum and volume to confirm this. A small upward break in the downtrend channel won't be enough to confirm without volume .

Targets to watch:
1. A break out of the downtrend channel marked in RED.
2. A break in the $2.97 Fib levels
3. A break in $3.47
4. A break in $3.88

Grab some popcorn and hit us with a Thumbs Up button if you like our analysis. We'll be keeping a close watch.

Comment: Signs of life...

As we can see on our chart ICX has broken out of our downtrend channel with a confirmed rise in volume. It also broke through the fib retracement levels at $2.97 mark and it's also above the 50day sma.

If stays on this run, next target to watch is $3.48

Stay Tuned.
Comment: If the pattern drops back into the downtrend channel, we could see a bear flag formation pattern finishing which looks likely to happen. Price can reach back to $2.30 levels.
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