FEB 17, 2020:
* Finished my thoughts on BITSTAMP:BTCUSD from yesterday and worked down to the 4HR charts.
* Generally looking for a short trade to set up against old highs (RLZ) heading in to either Tuesday or Wednesday London Kill Zone.
* Alternatively I think it's possible for this pullback to be a trap and I see a fair chance of BTC...
I am wondering what will happen to ICX when we look at the 4-hour chart.
If we look at the chart we see that the volume is fallen and the MACD is currently bearish.
On the other hand, ICX remained above the 50-EMA despite the huge sell-off after the 300% pump.
I am waiting for more clear signs to take a position. What do you guys think?
ICX is an interesting project but it’s difficult to consider a short term trading opportunity currently.
The bearish trend is so strong since the end of 2017 that it’s difficult to have a good chart overview without activating log scale option.
The weekly analysis doesn’t seem so complex. We are in a monthly descending wedge.
An important resistance zone can be...
Publishing my fractal again. Market makers are waiting for the yearly candle.
Compare the whole cycle yourself. XDN/BTC = June-December 2017 - ICX:USD = From top to the bottom. You will see that both charts look exactly the same. The only difference is the decline ratio.
ICX will be at least $2. Easy 20x from here. Smart money buys when dumb money doesn't want...
Thanks and best regards!
With my TA time frame you will hold below:
H1 hold for 1-3 days
H4 hold for 3-7 days
D1 hold for 1-3 weeks
W1 hold for 1-3 months
Support me if you have profits with my TA:
ICON topped in an critical old support area, which is now new resistance. RSI is to overbought.
I expect a correction towards at least the first green box (0.618 fib probably). if this box doesn't hold, then the 2nd green box will serve as support.
An update of my trading plan
One month after the first analysis, let’s have an update of the trading opportunity we had.
First of all, we also had a weekly higher high; normally the long term downtrend is finished; really good news for investors and bag holders.
The price took the right direction; the technical analysis was not so bad but it wasn’t the toughest...
BTS, AION, SNT, what the heck is going on?
Well, this is crypto and crypto = human emotions. Nothing more.
That's why I have said again and again, just throw away all your Elliot Wave analysis and Bitcoin toxic maximalism, if you understand how penny stocks, crypto is akin to that and much worst.
Anyways, most people already gone and sold the bottom, its time...