ICXBTC trade ideas
ICX/BTC May 17, 2019Nothing to do on this asset today. Price is making it's first corrective pullback after an aggressive bearish trend. We are currently rejecting from the daily base line and nothing is indicating that a position can be put on. Looking back in time we see similar price action on our last aggressive downtrend, where price put in a double bottom before breaking the daily base line and moving bullish.
What We Need to See:
Price close ABOVE the Daily Base Line
Waddah Attar Confirm by printing a Bullish Column with a rising explosion level
Time Transformation closing above zero line.
Stay safe.
If ICX Breaks Back Above Support...All Hell Breaks LooseWelcome to alt season guys! It's been a pleasure charting throughout this bear market. You'll see why I speculated that this could happen very soon in my recent posts. Anyway, let's get right to a quick and dirty ICX analysis. If this thing can get back above the 530-550 area, there's not much resistance until 736. Based on the market's momentum, I think ICX can also surpass its recent high. Additionally, ICX is just a few cents from breaking its April high on the USD chart:
If $0.45 breaks, the previously broken ascending trendline is next (around $0.55). And if THAT breaks, it would trigger a potential inverse head and shoulders that could send it all the way up towards $1.30. I guess we'll see how bullish the market really is. On the downside, if ICX can't get back above its broken support, and if Bitcoin dumps...sending it to new lows...that would be a bad sign, obviously. For now, things are looking very good.
Previously, I forcasted the ICX rise from the 700 area towards 1000. However, it got rejected heavily there and even headed to a new low. If ICX can sustain a pump here, this was likely the enormous bear trap for altcoins that I've been talking about for a while.
This is not financial advice.
-Victor Cobra
ICX at supportICX providing a nice entry opportunity at this price point. Sitting on support and RSI nearing traditional pivot point. Low risk/high reward opportunity. Potential news catalyst in the works although unconfirmed at this point.
ICX POSSIBLE RETRACEMENT TO....ICX POSSIBLE RETRACEMENT TO 390-411
ICX is not showing any sign of reversal. Best thing to do is to wait for confirmation
