ICON showing signs of strength again after 36% correction from Bitthumb pump
Signals:
ICX having a hard time breaking through 3375 resistance, which is the 0.382 fib level
RSI: Very strong. In crypto we know the RSI is very accurate at predicting short term price drops, and this one is approaching the overbought zone on the 4 hour. However, a very strong RSI can also be a good thing if volume can match.
Bitcoin dominance on a decline again, we can safely assume alt season is likely here
How to trade:
Safe: Buy in at 3400 sat level after convincing volume allowing it to fully break out of the 0.236 resistance
Sell points:
0.618 fib level, where previous resistance was
Risky: Buy in at 3400 sat level after convincing breakout.
Sell points:
4115 sat level
If you don't agree, please leave the reason in the comments. I will read and consider all your comments and use them in my next TA's.
Signals:
ICX having a hard time breaking through 3375 resistance, which is the 0.382 fib level
RSI: Very strong. In crypto we know the RSI is very accurate at predicting short term price drops, and this one is approaching the overbought zone on the 4 hour. However, a very strong RSI can also be a good thing if volume can match.
Bitcoin dominance on a decline again, we can safely assume alt season is likely here
How to trade:
Safe: Buy in at 3400 sat level after convincing volume allowing it to fully break out of the 0.236 resistance
Sell points:
0.618 fib level, where previous resistance was
Risky: Buy in at 3400 sat level after convincing breakout.
Sell points:
4115 sat level
If you don't agree, please leave the reason in the comments. I will read and consider all your comments and use them in my next TA's.
Trade stängt: målet nått:
Target reached, good volume to justify the price action, but seems like we are currently unable to break 3772 sat resistance level. Bitcoin needs to hold 8k for me to be truly bullish for ICX to have a breakout.
Kommentera:
We did manage to break through :D. This alone can almost signify another bull trend for alts. I think the mentality has shifted from bearish to bullish with all this good news. We are still in a down trend but I feel like the trend is not our friend anymore, because it is the "end"!
