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Icxusd

ICX/BTX Daily chart looking good to go long.ICX/BTC has been in a heavy downtrend since January 30th. We have seen a selloff to almost the 0.718 Fibonacci retracement level when calculated from the overall first impulse wave up. We recently broke out of the downtrend on the daily chart with high volume and looks to be forming a cup and handle pattern. The right side of the handle has at the time of writing, come down to an ideal level in the upper third of the cup structure. If it drops below 3864 sats with conviction I that would be something to keep an eye on as a possible failed pattern formation. Other indicators such as the exponential moving averages show that we are going to be seeing a uptrend for the medium to long term. The 55 day moving average has nearly crossed below the 21,13 and 9 day EMA's. The RSI on the daily is showing bullish divergence and the MACD has crossed over on the negative side after being there for a while. The 12 and 26 day moving averages on the MACD are starting to fan out and moving to the positive side of the histogram which is a nice bullish indicator. This technical analysis combined with Icon's upcoming ICO platform release, staking news, token swap and other potential partnerships and news over the coming months shows that ICX/BTC has the potential for a nice bullish run. Any advice or comments would be appreciated :)
Long
by broimjoe
6
ICON Trading Opportunity ICON showing signs of strength again after 36% correction from Bitthumb pump Signals: ICX having a hard time breaking through 3375 resistance, which is the 0.382 fib level RSI: Very strong. In crypto we know the RSI is very accurate at predicting short term price drops, and this one is approaching the overbought zone on the 4 hour. However, a very strong RSI can also be a good thing if volume can match. Bitcoin dominance on a decline again, we can safely assume alt season is likely here How to trade: Safe: Buy in at 3400 sat level after convincing volume allowing it to fully break out of the 0.236 resistance Sell points: 0.618 fib level, where previous resistance was Risky: Buy in at 3400 sat level after convincing breakout. Sell points: 4115 sat level If you don't agree, please leave the reason in the comments. I will read and consider all your comments and use them in my next TA's.
Long
by HD1184K
ICXBTC - falling wedge? -- volume needed to breakout.. ICX is a great project and reviewed by many experts as a good long term investment. But this chart is for short term trade maybe less than 30 days. I am hoping to get a spike of at least 10%.. timing and profitability can be influenced by BTC and volume spike. Ichimoku cloud is bearish but the average price range should be way more than the current price (positive sign). Might go down a little before spike.. don't panic sell!! Please hit "LIKE" to support! Thanks Basics of ICHIMOKU : There are five calculations used to generate the Ichimoku Cloud: Tenkan-sen = (9-day high + 9-day low) / 2 Kijun-sen = (26-day high + 26-day low) / 2 Senkou Span A = (Tenkan-sen + Kijun-sen) / 2 Senkou Span B = (52-day high + 52-day low) / 2 Chikou Span = Close plotted 26-days in the past. Read more: Ichimoku Cloud www.investopedia.com
by VinnyTheTrader1
ICX diving right into the 2nd part of a cup&handle? (+500% pot.)In my previous post I highlighted the downtrend that ICX is currently in, and how there is no clear indication of reversal yet. It actually even broke the lower white triangle support and is now trying to get back in. It could be a coincidence, it could be faith. But because of breaking that triangle for a moment there, a nice fitting cup & handle pattern might well be in the making. We are seeing slow and steady enough price movement so far, to not be speaking about a V-pattern, but something that could become a U-pattern as is typical for the cup. Moreover, we see that volume has been on the decline towards where we are now. We can probably go a couple of days before we finish that bottom in ICX. And if this scenario would hold true (remember, it is just one scenario), we could be in for a nice price bump. To fully fill up this picture, have a look at the "CVI" (Cumulative Volume Index), it is quite typical that this index does the opposite of price, when it is preceding a trend reversal. Here we see downward price movement, and upward "CVI". This could ultimately result in a bullish break-out. Moreover, as you can see, the white triangle resistance is not that far anymore to break out. And we know what happens if we break out there. Moreover, if we look at the MACD, we see a golden cross that has been in the making for quite some time now, it came soooo slowly, but I think it might be there: look at the light bluish dot on the 12th or March (today). Seems like an upward curve, albeit very very gently ;-) Also, RSI (Relative Strength Index) is in the heavily oversold area now,: Conclusion: So... indicators are starting to point more and more in the direction of the bulls: bullish MACD, bullish RSI, divergence in "CVI" and price. And we might have a cup & handle on our plates, and we are close to the end of the triangle formation. (Purple target line on the right upper corner is my current cup & handle target - a bit more than 500% upward potential) Does this mean we are in the clear? No. We still do need the break-out confirmation and that goes hand in hand with a take-up in Volume, getting back in and then breaking the triangle and moving upwards on that steep upward second half of the cup! Many things could go wrong on that journey. Risks: we can fall through to the downside, directly crushing our C&H figure. Luckily, we should be standing on the sidelines now - waiting for a confirmation of this - just a - scenario. Best of luck.
by A_Cryptastic_Mind
5
ICX Finally broken Free 400% Profit ICONI made the call that the baseline of the correction would be found at the 0.0002550 - 0.0002600 level, and it bounced beautifully for us right off that mark. It had been following the fibonacci levels perfectly ever since its release. After forming the descending channel that led to the baseline it bounced straight off that level and formed a new upward trend line, inside a symmetric triangle pattern. We have finally broken out of this triangle, and are making our move upwards. Here are the new fibonacci levels for our targets: First target is 0.0004157 It's so undervalued at this point, being $12 only 2 months ago and with such promising news coming mid April, we can be extremely bullish about this point. We need Bitcoin to not drop much further in order to maintain our momentum. All the best Please note: Invest at your own risk. This is not finacial advice.
Long
by alistaircanvin