Iconomi Might Be Close to Bottom
For the last few months Iconomi has been disappointing for traders and investors. The community constantly demonstrates how frustrated those that held on to this cryptocurrency are. The few optimistic posts aside, more and more people have sold off their Iconomi, often times taking big losses (which can be seen by looking at how the cryptocurrency has been performing).
This idea is here to show that at this present point in time it is really not worth it to sell Iconomi at a loss. We might have reached a bottom or at least we should be very close to reaching it. Even for those that are not familiar with Elliott Waves ([url=Elliott Wave Pattern]en.wikipedia.org/wiki/Elliott_wave_principle) the pattern should be clearly recognizable. We are reaching what is the end of a whole cycle. Furthermore we can spot a typical bubble pattern on the Iconomi chart. For reference:
[img]i.imgur.com/K5smKit.png[/img]
On this bubble pattern we are also clearly at the bottom. As the "mean" shown there we can see the "Uptrend line 1" or in the worst case the "Uptrend line 2". Around the second uptrend line will be end of our free fall. Some may argue that we have yet to reach the "despair" phase, but that phase is not always present. Either way, we are close to the bottom.
What happens after we "return to the mean"?
There starts the first phase again. People will slowly start to accumulate Iconomi. The smart money will make a first step, since most investors will at first be insecure, which is understandable by looking at the chart history. And before we know it we will be ready for take off.
Iconomi will soon have the chance to shine again. After all, the fundamentals of this cryptocurrency are solid, as opposed to a lot of other mindlessly hyped ones.
This idea is here to show that at this present point in time it is really not worth it to sell Iconomi at a loss. We might have reached a bottom or at least we should be very close to reaching it. Even for those that are not familiar with Elliott Waves ([url=Elliott Wave Pattern]en.wikipedia.org/wiki/Elliott_wave_principle) the pattern should be clearly recognizable. We are reaching what is the end of a whole cycle. Furthermore we can spot a typical bubble pattern on the Iconomi chart. For reference:
[img]i.imgur.com/K5smKit.png[/img]
On this bubble pattern we are also clearly at the bottom. As the "mean" shown there we can see the "Uptrend line 1" or in the worst case the "Uptrend line 2". Around the second uptrend line will be end of our free fall. Some may argue that we have yet to reach the "despair" phase, but that phase is not always present. Either way, we are close to the bottom.
What happens after we "return to the mean"?
There starts the first phase again. People will slowly start to accumulate Iconomi. The smart money will make a first step, since most investors will at first be insecure, which is understandable by looking at the chart history. And before we know it we will be ready for take off.
Iconomi will soon have the chance to shine again. After all, the fundamentals of this cryptocurrency are solid, as opposed to a lot of other mindlessly hyped ones.
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