ICON ICX/USDT Bullish. LONG. Breakout soon.

ICON looking like a breakout is imminent. Great risk to reward almost 1:5. There are multiple targets that have been hit. However be aware there is a big algo target wanting to take this a bit lower first. Play safe

Entry 1: Below 0.3850
Stop: 0.3350

Entry 2: Wait for breakout, candle close and retest of range
Stop: 0.35

Entry 3: 0.3080 Algo target
Stop: 0.2990

Target 1- is 0.5 Fib from the first lower high. This is a technical pivot used by the algos:
0.5320
Target 2- is 0.5 Fib retrace from the high, this is also in confluence with the 0.618 Fib from the first lower high:
0.5751


1st lower High, Technical Pivot:


Algo Target:


0.618 Measured Move Projection from 1st Lower High Technical Pivot:


3D Ichimoku:


1W Ichimoku Testing Strong support:


Warning Algo Target @ 0.3071:


1D Chart
Bullish Divergence on RSI and MACD
Warning High Volume Node @ 0.3338 Has not yet been tested
Will the Buy side Algos be lost @ 0.3197 (0.707 Fib) or Will there be a liquidity grab?



Never Trust. Verify.
D.Y.O.R. Not Financial Advice, Just My Observations.
Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.