ICON posted great gains during December - beginning of January. The end of the conference signified a sell the news event (never hold your bags post conference, this was evident during Vechain's conference as well)...
It needed a correction, and it got one! Like everything that goes up a lot, it tends to get a deep pullback. I believe this coin will be one of the best gainers and most ambitious projects of 2018, since it is Korea's official blockchain infrastructure. Many financial, university, and hospitals will be building their infrastructure around ICON. 5 ICOs are set to be built on the ICON platform for April. As traders we must get things when they are at or near the floor, this is where smart money accumulates! Alt season is near, and ICON will no doubt gun for all time highs in my opinion. As you can see from the chart, it found a floor at around 0.00037 sats -0.99% . There is heavy resistance on the ichimoku starting from 0.00043 - 0.00053. The 200 day moving average on the 4 hour sits right above the cloud at 0.00054 so it will remain in bearish territory until it can come back. It is a 25% difference from the floor to it's bullish territory. If you want to play it safe, you can buy at confirmation of bullish uptrend at 0.00054, or start accumulating slowly at these lows, and buy more when uptrend is confirmed.
It needed a correction, and it got one! Like everything that goes up a lot, it tends to get a deep pullback. I believe this coin will be one of the best gainers and most ambitious projects of 2018, since it is Korea's official blockchain infrastructure. Many financial, university, and hospitals will be building their infrastructure around ICON. 5 ICOs are set to be built on the ICON platform for April. As traders we must get things when they are at or near the floor, this is where smart money accumulates! Alt season is near, and ICON will no doubt gun for all time highs in my opinion. As you can see from the chart, it found a floor at around 0.00037 sats -0.99% . There is heavy resistance on the ichimoku starting from 0.00043 - 0.00053. The 200 day moving average on the 4 hour sits right above the cloud at 0.00054 so it will remain in bearish territory until it can come back. It is a 25% difference from the floor to it's bullish territory. If you want to play it safe, you can buy at confirmation of bullish uptrend at 0.00054, or start accumulating slowly at these lows, and buy more when uptrend is confirmed.
Note
ICX dipped below 0.00037. If you had your stops a bit below, you were safe. Otherwise, I'm looking at 0.0003 as next strongest supportNote
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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.