I am not really harmonized with this chart, both my previous analysis on ICX/BTC were completely wrong, first I was caught in fake triangle and second time, I was longing only expanded flat correction.
But now for the third time, I am more confident about my eliott wave count. I think there are two scenarios right now :
1) The correction is finished and ICON is heading in 5 waves towards 8000 satoshi (at least). In that case, we should see strong bounce from one of those two blue boxes, which should act as a strong support. However, until we are below BULLISH LEVEL, it could still ended up as another failure, which brings me to 2nd scenario.
2) This scenario counts with rejection from bullish level and with one big leg down and completing WXYXZ correction.
But I am much more bullish, because we finally broke that strong trendline, so buying at 3500 - 3200 satoshi might not be a bad idea.
This is my eliott wave anotation on lower time frames :
But now for the third time, I am more confident about my eliott wave count. I think there are two scenarios right now :
1) The correction is finished and ICON is heading in 5 waves towards 8000 satoshi (at least). In that case, we should see strong bounce from one of those two blue boxes, which should act as a strong support. However, until we are below BULLISH LEVEL, it could still ended up as another failure, which brings me to 2nd scenario.
2) This scenario counts with rejection from bullish level and with one big leg down and completing WXYXZ correction.
But I am much more bullish, because we finally broke that strong trendline, so buying at 3500 - 3200 satoshi might not be a bad idea.
This is my eliott wave anotation on lower time frames :
Note
ICX finally on the move, I am in since 3240 satoshi and I will let it ride to that final 3rd target at 8057 satoshi. Trade for several weeks probably, or few months.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.