Very nice weekly bullish candlestick reconfirmed the previous buy signal on the daily chart (engulfing bar of 29 June). Confluence with bottom of channel trend line and 1.618 fib level. Good place to enter a medium term long position.
a good case for a 1,2 on the daily scale. wave 3 would have a potential +190% move.
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looking at history we have to drop in to that zone on the top of the lower historical trend
one this is clear, we wont get a bull run this year, we may bot get a bull run for 18 months, but we might get an up and down sideways between 5 and 3
a drop to 2k is not out of the question soon, id be shocked but not surprised.
the volume is low.
if the S&P 500...
MID TO LONG TERM SIGNAL
Icon been sleeping whole year and reach the bottom all time low ...
for investors and coin holders .. its the time to wake up this dragon ..
Targets on chart ..
start laddering the buy zone area
no stop loss needed here
use small bags on each small dips ...
dont use all your capital in one coin
ICON NEXT EVENTS
31 December 2018...
. 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...
Keep your stop losses at just under or over 20ma although we might retest and bounce from 20ma.
don't risk big amount and scale in if chart plays out.
also same is happening with WANBTC
bullish alt season for some? quite hard to tell just yet...
The 2 green arrows are short term targets and the following drawn lines are the scenarios that follow. I'm inclined to follow the bearish outcome if BTC stays on its current trajectory. This is probably just some sort of 'B' or 'X' wave exacerbated by the news of the ICX/USDT pairing on Binance.
"Buy the rumor, get rekt by news" .. or something? Probably paraphrasing.
Right now we can see that there is a C&H pattern. Hopefully when it breaks out this will lead to the formation of an even bigger C&H.
To get the price target of a C&H pattern you add the height of the cup to the breakout point of the handle. If this plays out, you can estimate for yourself the target of the larger C&H... it will be glorious.
ICX is love, ICX is life <3
Just following up my last post that showed the end of the ABC . We broke out a short term descending wedge then came back on top of it to re-test as support. Potentially a deep subwave 1 or 'double bottom' type of structure to set up a subwave 3 with the momentum to break us past the last high. A re-test of that next high could be possible too.