ICON / BitcoinLong
ICX ICON showed its potential and doesn't stop!
Updated
Okay guys, here is a new Chart on ICON I want to show you, with a possible profit of 66%.
We have seen a bull-run from 21000 Satoshis to 44000 within 3 days. The potential to continue the bullrun is very high, since it was in the oversold area for a very long time.
The ABC correction is done and we are all set for some new waves. As you can see in the chart above, wave 2 retraced to the .32 fib level. This is very unusual since it ONLY retraced this much over the past few days after each run which gives me very bullish signs. The target for wave 3 is at around 60k Satoshi.
The channel I drew in is a potential play zone in which you can decide to go long when it touches the support level. A clearer Chart with more information will follow as more data comes in.
This is no financial advice! Take care and good luck
We have seen a bull-run from 21000 Satoshis to 44000 within 3 days. The potential to continue the bullrun is very high, since it was in the oversold area for a very long time.
The ABC correction is done and we are all set for some new waves. As you can see in the chart above, wave 2 retraced to the .32 fib level. This is very unusual since it ONLY retraced this much over the past few days after each run which gives me very bullish signs. The target for wave 3 is at around 60k Satoshi.
The channel I drew in is a potential play zone in which you can decide to go long when it touches the support level. A clearer Chart with more information will follow as more data comes in.
This is no financial advice! Take care and good luck
Note
Here is an update to my TA of yesterday! I was wrong about the retracement level, which isn't a big deal because we are now playing the channel support.
On the 1 hour chart we see a Stoch RSI that's fueled up and ready to give us a nice upward push. Since the 3rd wave count is below the resistance level of my channel, we can probably extend it a little bit. This chart is just a little more conservative than my main chart but the sentiment stays the same.
Stay strong and healthy.
M.S.
Trade active
Here we go again. So the Channel support broke and we retraced harder than I would have expected, but we got a new confirmed support that seems to be very strong. We can expect ICON to play the support line for quite a while now. I set my stop-loss slightly below this support because as it is usual in crypto, one we go down, we don't know where it will stop.
Good luck and take care!
Trade closed: stop reached
Even though the indicators looked healthy, ICON decided to make the same moves as Bitcoin (orange chart on the bottom) and broke its support.
As we are currently in the highly oversold area on the 1h, We should see a little leg up.
Comparing Bitcoin with ICON gives us a clearer view into the market sentiment, as we know that a lot of ALT's follow BTC.
Bitcoin retraced into the golden pocket from its February low, which is currently acting as a strong support.
However, ICON is not playing in a support level at the moment but just follows Bitcoin. Once the Indicators are reset we will either see a leg up or down. I'll update this post since ICON is a very interesting Cryptocurrency.
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