. ICON/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 54.
. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.
. Price is in the support zone ...
I'm going to risk it early and say that the shorter term correction is over. I have been able to count 5 waves down in both the A and C waves. If BTC makes another large run then this will probably just fall a little lower though.
Here I am projecting the possible medium/long term outlook for ICX. This projection takes into account the possibility that wave 1 is now over. Below I have added some additional sub wave counts for wave 1 - just to play Devil's Advocate!