After comparing several ALT's that had not yet reached a new ATH, I concluded that the correction for those crypto's was not over yet.
I then started my TA using Elliott Wave's and fibs to come to the conclusion that the C wave of the correction is now in play and may bring this crypto down to its 236 fib.
The C wave count does not have to be an ABC, it is too...
Icon has had some pumps lately and we are trying to conquer with prior high but we see kind of rejection..
In my opinion we are about to have chances of forming a cup and handle.
Many will know it more often than not a BULLISH pattern.. With breakouts to the upside..
The support and resistance lines I draw are approximate areas. It can be a little...
basic bullish count on display, possible start to wave 3 of the 3rd wave 2nd degree
2nd bullish less likely count, possible start to 3rd wave in the 3rd degree
3rd weekly volume spike is an aberration fails to start impulse trend and continues to sub 30 cents
Today we have ICON or ICX on the menu.. This was one of my 1st bought crypto back in the days.. made a nice profit on it..
In my opinion you see nice primair trends on this chart --> the bigger picture..
The amplitude in the trend gets smaller (the waves) so what are the odds when we begin a next wave that it will get higher than previous...
ICX (ICON) is moving in a well-shaped parallel channel on the weekly chart. It has been reacted well to an important level at $1.2 which is also a long-time dynamic support and the bottom line of the main channel. IF it bounces from this level and stabilizes above the EMA200 (Ideally at $1.4) we can expect the price to test the resistance at $2.5. The target price...
This baby has been a staple of mine for a couple of years now and boy am i excited for whats going to happen over the next few months.
Things to note:
1) Weekly TK cross about to happen.
2) Weekly cloud has just flipped green again.
3) 3D TK cross just occurred and has happened ABOVE the cloud (very, very bullish sign)
honestly. just hodl, we waited so many...
ICX is about to breakout out of a 3 year down trend in the usd pair. A break above .618/.7 resistance zone around $2.80 would be confirmation. If ICX breaks this zone I would expect all time highs to be reached pretty quickly. Look at LRC/USD for comparison.
We can see ICON formed an s-h-s pattern and it is on SOS (sing of strength) according to the Wicoff principles. This increases the odds for ICON to claim.
It is creating a pennant also at SOS.
Volume is increasing inside this pennant in smaller timeframes what confirmes this accumulation. It will eventually have to decide whether it breaks upwards or downwards.