ICON, ICXBTC one of the better coins if you look at their fundamentals, partnerships, and objectives.
And with our previous analyses, we did on ICX you could have made a very nice profit so let's take a look at ICXBTC again and see if there's another opportunity to (swing) trade it.
TRX, TRXBTC.
Analyses
- As with the market, ICXBTC has retraced quite a bit and it looks like we're probably not done yet.
- If the market stays weak for the coming days then we're obviously heading lower and the most likely support area is around the 3250 satoshis level, which is within the "golden pocket" fib. retracement level of .618 - .65.
This is also the area where the price hits the lower (blue) trendline again which it has hit and bounced off of numerous times. So this is another indication that is a key (support) area.
- And if we look at the Elliot Wave, we're looking to make a 5-3-5 (Zig Zag) correctional wave and it looks like we're currently in wave 4. So the 3250 satoshis and the .618 - .65 fib. retracement level will give a nice wave 5 count.
- If the bottom is set, then we 're looking to make a new Impulse Wave up which you can see on the chart above with my current likely projections and count in a so-called "perfect" or ideal scenario.
- Within this scenario, we will also look to make and break out of a big cup & handle pattern so look out for that as well.
- And by the end of next month, they're expecting to have the ICX/ETH decentralized exchange launched so this should be the next catalyst for the next runup.
So there you have it, our current outlook and projection for ICXBTC. In time we'll have to adjust and adapt when things are changing.
And as with crypto, things can change very quickly so buckle up cause it's gonna be a hell of a ride ;)
Like the post, if you liked it and share it if you loved it. This is for good karma.
Leave a comment if you have any questions.
And until next time, good luck with your trading!
Disclaimer
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
And with our previous analyses, we did on ICX you could have made a very nice profit so let's take a look at ICXBTC again and see if there's another opportunity to (swing) trade it.
TRX, TRXBTC.
Analyses
- As with the market, ICXBTC has retraced quite a bit and it looks like we're probably not done yet.
- If the market stays weak for the coming days then we're obviously heading lower and the most likely support area is around the 3250 satoshis level, which is within the "golden pocket" fib. retracement level of .618 - .65.
This is also the area where the price hits the lower (blue) trendline again which it has hit and bounced off of numerous times. So this is another indication that is a key (support) area.
- And if we look at the Elliot Wave, we're looking to make a 5-3-5 (Zig Zag) correctional wave and it looks like we're currently in wave 4. So the 3250 satoshis and the .618 - .65 fib. retracement level will give a nice wave 5 count.
- If the bottom is set, then we 're looking to make a new Impulse Wave up which you can see on the chart above with my current likely projections and count in a so-called "perfect" or ideal scenario.
- Within this scenario, we will also look to make and break out of a big cup & handle pattern so look out for that as well.
- And by the end of next month, they're expecting to have the ICX/ETH decentralized exchange launched so this should be the next catalyst for the next runup.
So there you have it, our current outlook and projection for ICXBTC. In time we'll have to adjust and adapt when things are changing.
And as with crypto, things can change very quickly so buckle up cause it's gonna be a hell of a ride ;)
Like the post, if you liked it and share it if you loved it. This is for good karma.
Leave a comment if you have any questions.
And until next time, good luck with your trading!
Disclaimer
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
