WHY mention ICX now? --> Exiting the 2 weeks of downwards channel ... might mean a new upwards trend.
* LIGHTBLUE broken out of down channel top
Alternatively it could first go sideways for a while, e.g. between 3700 and 4000 (zoom in on 15 minutes chart).
Or (which I don't believe but it's possible) breaking out of the channel FAILS ... then it could fall, but probably not further down than approx 3400:
* PURPLE trend line was the FIRST (i.e. last unbroken) one, of 6 accelerating trends, during its parabolic rise, early February 2020
* BLUE horizontal at 2750 was an August 2019 peak.
* LIGHTBLUE broken out of down channel top
Alternatively it could first go sideways for a while, e.g. between 3700 and 4000 (zoom in on 15 minutes chart).
Or (which I don't believe but it's possible) breaking out of the channel FAILS ... then it could fall, but probably not further down than approx 3400:
* PURPLE trend line was the FIRST (i.e. last unbroken) one, of 6 accelerating trends, during its parabolic rise, early February 2020
* BLUE horizontal at 2750 was an August 2019 peak.
Note
I have never before used FibRetracements. Have I done this right ???The 61.8% level 5248 coincides with a support 5210 from one year ago; and at 5225 it got reflected during the bull trap on Feb 5th at 13:00 UTC.
Or how do I apply Fibonacci Retracements correctly?
So above ~5200 Satoshi, take profits, I guess?
Or 4999 might be a good moment to exit (see the resistance on Feb 6th, and it's a whole number) ?
Any opinions?
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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.