Icon is above an important support zone after a long period of accumulation. It would be a good buy opportunity if it does a pullback to our buy zone to surf the next impulsive wave at the macro scenario.
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For over a month now, ICXBTC is trading above the Ichimoku cloud. Beginning of the month it perfectly bounced back of the support of the cloud which is a bullish signal.
Now we are also seeing a MACD crossover incoming. When the MACD crossover is realised, I will be very bullish on Icon.
Another bullish signal is a rise above the Kijun Sen (blue line).
Hey, I am back with another Crypto Analysis.
Today I took good profits out of Dot coin, over 50, I've been more greedy than usual in this trade.
I think it still has potential to rise, but I expect at least a correction.
Enough about Dot as we don't have much time as ICX is trying to break the downtrend line.
So this should be pretty quick trade, buy in the...
BINANCE:ICXBTC has been on my rader for some time but other alt-coins had my priority and i have executed the trades on them. This means my aim is completely focused on Icon.
Now on this chart we can see a couple of reason why i has cought my eye. The last few days the price has risen 80% measured from most recent low to the peak of this rally.
ICXBTC is broken out of falling wedge. The possible gain is shown in the chart. Maybe we get a pullback at this stage, but we have to find out. This could give us the confirmation of the first wave of the new set of impulsive waves. Interesting trade!
It seems like ICS is showing us a nice elliot wave. We see a nice retracement during the second wave and followed by a third wave with a factor of 1.6 of the first wave. The fourth wave seems to come to an end. If the last wave is comparable to first wave we get a nice prediction. Let's see how this develops the coming hours.
Daily completed an Inverse H&S since January highs. Did what looks to be a final shakeout which touched support around 3100 sats followed by a 4hr H&S with another shakeout at 3200 sats. DAily RSI Divergence up and in over sold region. I say up up and away. DYOR. THis is crypto.
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...