. There is a possibility of temporary retracement to suggested support line (0.5885). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. ICXUSD 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.
a good case for a 1,2 on the daily scale. wave 3 would have a potential +190% move.
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im still of the opinion that ICX will be a main player in the next 4 years.
price wise im not worried but i think theres blood to come.
unfortunately its BTC that dictates ICX price
it rises well in slight pumps with Bitcoin every time
A possible wave count for ICX SUDT, just a theory, I will be watching to see how this plays out. We are already very oversold so a short squeeze, if one were to happen, may invalidate this count due to external factors.
As A trader we have to be open to both Bull And Bear Scenarios. Based on New data that has come in I have changed my View On ICX, We see an Ascending wedge forming, which is a bearish pattern.I expect this to break to the downside where one of the 3 fib levels I have highlighted In green will be tested These FIb levels are also confluent with support and...
I see this move from $2.10 to $2.70 as an impulsive wave 1. The red bars mark areas where wave 3 could end and begin a corrective wave 4, before finally having a final rally in wave 5, which I do not believe will be any higher than about $5.40.Let's ee how this plays out.
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.
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!
I believe the Dec/Jan move was a 'macro' wave 1. Wave 2 was a WXYXZ correction - the last wave was a B wave that ended in a truncated C, this is not wave 1! Waves 3,4,5 will be included in the next move. Wave 2 was long and drawn out so wave 4 will be fast and sharp.