ICON / BitcoinLong
ICON, RECOVERY AND RESPONSE TO + VOLUME FROM KOREN EXCHANGES,
Trading strategy:
hold half until bitcoin reaches resistance over 9.5k. as 4hour rsi is currently very high and the initial euphoria wave has passed i plan to place sells around 43k sats and rebuy lower to increase my position.
Icon has been one of the most hyped coins of late and has a similar feel to antshares before re branding into neo last summer.
having lost around 80% of its dollar value in past weeks the upside potential is massive, provided bitcoin doesn't shake investor confidence.
Bithumb listing is top of the list in terms of pump potential/investor expectation. For this reason i believe that although the recent dip in value is significant. sell volume on the way back up may not be as high as seen in other markets after such a significant correction. Due to long/mid term investors being rewarded by their higher expectations.
We have seen Korean buy volume produce unrealistic gains in the past, most prominent recently being ripples rise of upto a 25x increase on some exchanges led by Korean fomo
Depending upon whale manipulation and the amount of capital sitting on the side lines in the korean market i see two scenarios (both long) for ICX. Both depend on btcusd and the effect of the Korean fomo effect in a depressed market which i have not previously experienced.
Regardless of the new exchange being bithumb the mecca of green dildos, the increased volume and accessibility in korea which is the primary target market of icx should have a high probability of significant bullish impact on icon
hold half until bitcoin reaches resistance over 9.5k. as 4hour rsi is currently very high and the initial euphoria wave has passed i plan to place sells around 43k sats and rebuy lower to increase my position.
Icon has been one of the most hyped coins of late and has a similar feel to antshares before re branding into neo last summer.
having lost around 80% of its dollar value in past weeks the upside potential is massive, provided bitcoin doesn't shake investor confidence.
Bithumb listing is top of the list in terms of pump potential/investor expectation. For this reason i believe that although the recent dip in value is significant. sell volume on the way back up may not be as high as seen in other markets after such a significant correction. Due to long/mid term investors being rewarded by their higher expectations.
We have seen Korean buy volume produce unrealistic gains in the past, most prominent recently being ripples rise of upto a 25x increase on some exchanges led by Korean fomo
Depending upon whale manipulation and the amount of capital sitting on the side lines in the korean market i see two scenarios (both long) for ICX. Both depend on btcusd and the effect of the Korean fomo effect in a depressed market which i have not previously experienced.
Regardless of the new exchange being bithumb the mecca of green dildos, the increased volume and accessibility in korea which is the primary target market of icx should have a high probability of significant bullish impact on icon
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.