ICON / BitcoinLong
ICX to follow Verge's (XVG) momentum ? (+500% potential)
Updated
Verge has been on a rampage the last couple of days, exploding in price with strong momentum. The strongest catalyst being the knowledge of a pending announcement of a very big partnership (announcement planned for April 17th). It is supposed to be an exclusive partnership with a lot of impact. Hence, we have ourselves an anticipatory price movement.
Now, first of all, prepare yourself for the typical buy the rumour, sell the news phenomenon. Make sure you have your stop losses set. This might be a timing for the handle to start forming.
Verge:
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Could Verge be running two weeks ahead of Icon?
Moving on to Icon, we see that we have been forming what seems to look like a cup & handle formation, which you can also find back in one of my previous posts on ICON:
"ICX diving right into the 2nd part of a cup and handle?" (posted on March 12th)
If we look at where we are today, we are seeing a continuation of that pattern forming:
Given that ICX will announce its ICO platform and the IISS launch the 30th of April, we have ourselves some fundamental catalysts as well to get the price pumping.
Moreover, indicators are also lining up quite nicely and are evolving similarly to Verge previously.
So while Verge is currently on a rampage, ICX seems to be following a same pattern (potentially, and with like a delay of 2 weeks), AND there are fundamental catalysts to back this scenario.
Of course, I urge you to DYOR, and I also make this gently request to give a thumbs up if you found this post entertaining or educational or helpful in any way :)
Happy trading!
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FYI - post published on February 28th, preceding the triangle break-out:
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Now, first of all, prepare yourself for the typical buy the rumour, sell the news phenomenon. Make sure you have your stop losses set. This might be a timing for the handle to start forming.
Verge:
-----
Could Verge be running two weeks ahead of Icon?
Moving on to Icon, we see that we have been forming what seems to look like a cup & handle formation, which you can also find back in one of my previous posts on ICON:
"ICX diving right into the 2nd part of a cup and handle?" (posted on March 12th)
If we look at where we are today, we are seeing a continuation of that pattern forming:
Given that ICX will announce its ICO platform and the IISS launch the 30th of April, we have ourselves some fundamental catalysts as well to get the price pumping.
Moreover, indicators are also lining up quite nicely and are evolving similarly to Verge previously.
So while Verge is currently on a rampage, ICX seems to be following a same pattern (potentially, and with like a delay of 2 weeks), AND there are fundamental catalysts to back this scenario.
Of course, I urge you to DYOR, and I also make this gently request to give a thumbs up if you found this post entertaining or educational or helpful in any way :)
Happy trading!
-------
FYI - post published on February 28th, preceding the triangle break-out:
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Note
By the way, the Fibonacci levels to focus on are these:--> as you can see they price moves closely within these levels, so if you are putting targets for your trades, it makes sense to put them there.
For the shorter term traders:
Note
30/04 announcement date combined with bitcoin and ethereum fighting for a crucial break-out (if bitcoin breaks the 10K the altcoins will suffer and bitcoin will bull run like a boss), have caused ICX to break the cup&handle for now. I do think it will possibly bounce back, but in the meanwhile, I have taken my profit around these levels and will see when I'll buy back in.
As you can see, we are still only at the first fibonacci retracement for the current icx pullback:
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