While nothing much has changed from my analysis yesterday, I wanted to respond to a request for an update from one of my generous followers who left me a very generous tip. Thanks Rich.
I believe the 4 hour chart gives us the best perspective on ICON and the direction it's going. We can clearly see the 5 waves as well as the ABC correction. The C wave has been extended quite a bit, but reveals 5 clear sub-waves. This lends credibility to the count. As I said in my previous analysis, we should be nearing the end of the correction...meaning an impulse wave up should be expected in the next few days.
Volume is remaining weak. This leads me to believe we MIGHT be in for a failed impulse wave and a WXY scenario. This is NOT my primary count, but should be considered as a possibility (see secondary count on the chart)
Until volume increases, expect sideways consolidation, plus or minus 1-2%. As volume increases, expect the impulse wave to begin. We'll then see if it's enough to sustain an uptrend, or if we end up with a failed impulse. If the impulse does fail, expect another correction as outlined in my secondary count. I'm neutral short term, bullish in the next few weeks and leaning bullish long term. To add some fundamentals to this, we must remember ICON is a very new company. They've got a very optimistic roadmap. If they're able to deliver on their goals, we should expect a very nice spike in price. Specifically in the short term, they need to complete shifting from an Ethereum based token to their own ICON token on their own blockchain. Keep an eye on their progress. The release of their own token and away from Ethereum would be a very big achievement.
I hope this has been helpful. My content will always be free thanks to my generous audience who continues to spread the love. I truly enjoy helping others succeed. If you've benefited from my analysis, please consider tipping me to say thanks...but never feel obligated.
If you have a coin you'd like me analyze, feel free to ask. I'll try to accommodate as many requests as possible. Any request from someone who leaves a tip will be considered first. Thank you for your continued support. My goal is to make 2018 as profitable for you as possible!
BTC: 12rd6dE84dte27H4Gk9Sedm4W8R8nVUUjo
ETH (and all ERC-20 tokens): 0x0C67E0F823AD1511c383086E0E40444177C7A241
LTC: LNzrBTJzLn3Dfno2UbfmPtsPR2mNs7Tpj2
DASH: XoUTpTohr8Q82YSKNdByjL1nh3URs3ax5q
BCH: 1LJJkWBSwwhibVmEHmdttHDjFsuj8urP9J
NANO: xrb_3jqps9mzzqh3r9qzqwd1x6x5bnkcx375r676o816r5mjj8mpw4jp3ucrqcnx
I believe the 4 hour chart gives us the best perspective on ICON and the direction it's going. We can clearly see the 5 waves as well as the ABC correction. The C wave has been extended quite a bit, but reveals 5 clear sub-waves. This lends credibility to the count. As I said in my previous analysis, we should be nearing the end of the correction...meaning an impulse wave up should be expected in the next few days.
Volume is remaining weak. This leads me to believe we MIGHT be in for a failed impulse wave and a WXY scenario. This is NOT my primary count, but should be considered as a possibility (see secondary count on the chart)
Until volume increases, expect sideways consolidation, plus or minus 1-2%. As volume increases, expect the impulse wave to begin. We'll then see if it's enough to sustain an uptrend, or if we end up with a failed impulse. If the impulse does fail, expect another correction as outlined in my secondary count. I'm neutral short term, bullish in the next few weeks and leaning bullish long term. To add some fundamentals to this, we must remember ICON is a very new company. They've got a very optimistic roadmap. If they're able to deliver on their goals, we should expect a very nice spike in price. Specifically in the short term, they need to complete shifting from an Ethereum based token to their own ICON token on their own blockchain. Keep an eye on their progress. The release of their own token and away from Ethereum would be a very big achievement.
I hope this has been helpful. My content will always be free thanks to my generous audience who continues to spread the love. I truly enjoy helping others succeed. If you've benefited from my analysis, please consider tipping me to say thanks...but never feel obligated.
If you have a coin you'd like me analyze, feel free to ask. I'll try to accommodate as many requests as possible. Any request from someone who leaves a tip will be considered first. Thank you for your continued support. My goal is to make 2018 as profitable for you as possible!
BTC: 12rd6dE84dte27H4Gk9Sedm4W8R8nVUUjo
ETH (and all ERC-20 tokens): 0x0C67E0F823AD1511c383086E0E40444177C7A241
LTC: LNzrBTJzLn3Dfno2UbfmPtsPR2mNs7Tpj2
DASH: XoUTpTohr8Q82YSKNdByjL1nh3URs3ax5q
BCH: 1LJJkWBSwwhibVmEHmdttHDjFsuj8urP9J
NANO: xrb_3jqps9mzzqh3r9qzqwd1x6x5bnkcx375r676o816r5mjj8mpw4jp3ucrqcnx