ICON ICX/USDT Bullish. LONG. Breakout soon.ICON looking like a breakout is imminent. Great risk to reward almost 1:5. There are multiple targets that have been hit. However be aware there is a big algo target wanting to take this a bit lower first. Play safe
Entry 1: Below 0.3850
Stop: 0.3350
Entry 2: Wait for breakout, candle close and retest of range
Stop: 0.35
Entry 3: 0.3080 Algo target
Stop: 0.2990
Target 1- is 0.5 Fib from the first lower high. This is a technical pivot used by the algos:
0.5320
Target 2- is 0.5 Fib retrace from the high, this is also in confluence with the 0.618 Fib from the first lower high:
0.5751
1st lower High, Technical Pivot:
Algo Target:
0.618 Measured Move Projection from 1st Lower High Technical Pivot:
3D Ichimoku:
1W Ichimoku Testing Strong support:
Warning Algo Target @ 0.3071:
1D Chart
Bullish Divergence on RSI and MACD
Warning High Volume Node @ 0.3338 Has not yet been tested
Will the Buy side Algos be lost @ 0.3197 (0.707 Fib) or Will there be a liquidity grab?
Never Trust. Verify.
D.Y.O.R . Not Financial Advice, Just My Observations.
Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key . Capital preservation above all else.
