ICX/BTC Looking for fuel to take off
Updated
If we take the fib from the last major high and low on the 1H timeframe we can see that ICX has retraced right around 0.705 level which is ideal AND touched that 1H gray bullish breaker.
Also a good sign is that it's been making higher lows on the 4H and Daily timeframes.
Only thing that worries me right now is that green pivot level which we have fallen through and is now holding the price, so options would be:
1) aggressive entry right now and pray with your grandma that it breaks the green level
2) wait for the break of the green level and enter on a retest of it as support, this gives you better chance to win + better risk/reward ratio
Targets are red levels, around each previous local high, and stoploss for me would be below the previous low OR below the gray breaker outlined, depending on how wide I can tolerate it.
If it comes back to the breaker and starts making lower highs like that orange path, it would be a sign that it wants to break down further.
Also a good sign is that it's been making higher lows on the 4H and Daily timeframes.
Only thing that worries me right now is that green pivot level which we have fallen through and is now holding the price, so options would be:
1) aggressive entry right now and pray with your grandma that it breaks the green level
2) wait for the break of the green level and enter on a retest of it as support, this gives you better chance to win + better risk/reward ratio
Targets are red levels, around each previous local high, and stoploss for me would be below the previous low OR below the gray breaker outlined, depending on how wide I can tolerate it.
If it comes back to the breaker and starts making lower highs like that orange path, it would be a sign that it wants to break down further.
Trade closed: stop reached
REKT by Bitcoin, rip
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