ICON...Breakout Could Be Soon

Zooming out to the 4 hour chart, we can see ICON is on wave 2. It's currently just reaching the .65 fib level, also known as "the golden pocket". The RSI is starting to breach 30 (oversold) on most timeframes. Volume is still very low. I expect to see volume start to increase as the RSI gets more oversold. Once this happens, expect to see a bounce. If volume remains low, we might see ICON slip below the .65 fib level...but I'd be surprised if it dropped more than 2%. It's more likely to move sideways in my opinion. As long as bitcoin remains bullish, I think ICON will begin it's third wave as charted in the next few days. If you're holding at this point, I wouldn't sell. Now that ICON has reached the golden pocket, it's actually a logical place to start lattering in buys. Watch for volume to start ticking up. Once it does, expect wave 3 to begin shortly after.

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