ICX seems to be well supported and will not be able to fall this June. The main trend is still up and the target should be $ 0.4 this June and $ 0.5 at the beginning of July.
ICX will be very dangerous if you go into the Ichimoku cloud because it can reach $ 0.25 and it will take a long time to reach that price range.
ICXBTC was one of the earliest to breakout.
It has been consolidating since february 2020. Broke out of thr wedge and reached a critical support level.
Seems to be holding this level with resiliance.
Stoch RSI bottomed and reversed.
Please manage your risk. Use Stop loss. And do not take blind entries.
If you have question let me know. If you want to analyze any pair let me know.
This is just an idea. What we see.
Market can go in the opposite direction, what we analyze. so we have to manage our risk and adopt the situation accordingly.
Following up this pattern for a while now, had a perfect retest today and untill now it looks as this chart came out of a book.
First we see a breakout what became a fakeout,
then we saw a break of the fakeout high and we tested and got rejected by the previous lower high @ 4046 sat,
and today we backtested the wedge breakoutpoint and bounced off.
What do we...
ICON/BTC seems to be forming a bullish accumulation pattern at this short term resistance line, in this case, we must enter on the breakout and the stop must go below the flag, this is a very simple trade, and seems to be very bullish.
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> ICON \ ICX shows a nice price action within a channel in a uptrend with higher highs and higher lows
> 1st rejection with the lead in trend line (resistance)
> The 10\20 and 50 ema have shown levels of support
> Bearish divergence has played out on the 12H as per this chart
Here is a simple trade setup for ICON, who is inside a short term downtrend line, and now seems to be reverted on the support of this channel with a bullish engulfing candle, the objective of this trade is on the resistance of this channel, the stop must go below the today's minimum.
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Icon could see a bounce at each of the green lines. A reversal into a bullish cycle depends I think on the overall market conditions surrounding cryptocurrencies and traditional markets. If everything is on the up and up I think holding ICX can be profitable in the next bull cycle. Buying when there's fear in the market and patience helps to build great wealth.