$ICX Inverse Head & Shoulders = Trend ReversalIcon is a fundamentally sound project, but hasn't received the love it deserves lately.
They just released IconFi, and a bunch of other upcoming catalysts could be good for this project moving forward.
Catalysts including .. Rosetta Integration = Pre-Requisite for Coinbase Listing , Revision 12, CPS, and ICON 2.0 Alphanet
It is alt season after all..
The chart pattern that is forming against the $BTC pair is an inverse head and shoulders, which indicates a bullish trend reversal.
You can also see the RSI is neutral and Stochastic RSI is oversold.
I think this token has potential to do well over the coming days.
Not financial advice.
Project website: icon.foundation
Updates: medium.com
Iconbtclong
ICXBTC forming bullish Shark | Upto 655% big move aheadHey friends, hope you are well and welcome to the new update on ICON (ICX) coin with Bitcoin pair.
On a long-term monthly chart, the price action of ICX is completing the final leg of bullish harmonic Shark pattern and soon it will be entered in a potential reversal zone.
Buying And Sell Targets:
The buying and sell targets according to Fibonacci sequence of harmonic Shark pattern should be:
Potential reversal or buying zone: 0.00001981 to 0.00000742 btc
Fibonacci projection or sell zone: 0.00003102 to 0.00005609 btc
Stop Loss:
The potential reversal zone area that is up to 0.00000742 btc can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per the above targets this trade has the profit possibility of 655% and as per the above-mentioned stop loss, the loss possibility is 62%.
Note: The idea above is for educational purpose only, do not take it as investment advice.
ICXBTC formed bullish BAT and ready for bullish movePriceline of ICON (ICX) with Bitcoin pair has formed bullish BAT pattern and entered in potential reversal zone.
This PRZ area should be used as stop loss in case of complete candle stick closes below this zone.
Lets have a look on the move of price action to see how perfect this pattern is formed:
After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.50 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B Fibonacci projection area and last leg (C to D) is retraced between 0.786 to 0.886 Fibonacci and now the price action is moving in potential reversal zone of this bullish BAT and now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of A to D leg , but if after this bullish divergence the candles sticks will be closed above the 0.786 Fibonacci projection area of A to D leg then it can also lead to the long term bullish move.
As per Fibonacci sequence method we can set our targets as below:
Buy between: 0.00004404 to 0.00004327
Sell between: 0.00004588 to 0.00004861
So short term trade has potential to give upto 12% profit move.
Regards,
Atif Akbar (moon333)