ICX is signalling for Bullish divergence as the RSI crosses back above 30. Seeing a pinbar bounce off the Bol-band and likely to retrace to the 61 fib at alternated support around 460 sats. Coupled with a bearish BTC, likely see the Alt market start to rally - However given the ICX/USDT market aswel, this is showing strong support in the order book and also very...
Volume is decreasing as we climb higher, suggesting a lack of confidence and possible exhaustion. RSI in the "overbought/sign of strength" area on the tail-end of large rally, signalling for bearish divergence, confluence with topline of Bol-Band. CCI (w/ Volume weighted EMA) crossing down through the +100. Confirmation when breaks below 10ema. Looking for 38...
Perfect Wyckoff accumlation schematic 2 - stockcharts.com -MACD crossed above the signal line and under the horizontal -Demand signature on volume proceeding supply absorbtion - VPVR confirms this aswel. -3rd test of range support, just for good measure I have placed the stoploss under the 1.618 fib Extension incase we see a schematic 1 'Spring' below...
BTC has broken bellow channel support (green) trading below monthly VWAP. Wider channel (Orange) has solid convergence with trendline support (yellow - alternated resistance from all time high trendline), neckline of HnS pattern, and the 0.618fib retrace at 7830. This also fits the criteria for Wave 1 and 2 retrace for bullish continuation of wave 3. Possibly...
The long correction June/July this year is more proportional to suggest it was a completion of a previous wave cycle, rather than a simple 50fib correction on a larger Wave 1. If we did indeed label it as Wave 1 It would not abide by the rule of directional termination zones, while calling for a greater correction too soon in order for W3 to meet length criteria....
wave cycle appears to have completed, correction a/b appear to be forming in a downward channel, Weekly stoch has entered a bearish phase. 'C target' has confluence with 50% fib, bottom support of correction channel, and falls in the termination zone of the directional action.