ICON
Long
Updated

ICX: Bull flag breakout.

242
Continued analysis from:
ICX:BTC - Descending triangle that I am monitoring now.


Ichicloud also about to flip bullish again.
Note
Might accumulate even more if it comes back down to retest above the top white resistance turned support level; also depending on the state of Cyber Ensemble signal as well as PRISM Acceleration/Jerk Ribbon (AJR), as well as BTC analysis.
As mentioned in the prior published chart analysis, the movement significantly depends if BTC is holding or gaining, or if it is dipping.
Note
Looks like it is retesting the Ichicloud instead of finding support above the top white support trendline.
Cyber Ensemble sell signal triggered as well.
There is now a high probability for it to simply continue down to the bottom trendline at ca. 0.291 USD, if the 3hrly candle closes below the top trendline.
Will hold off buying/accumulating any for now unless it shows strength and closes above the top trendline for this candle, and start considering if it closes as a green candle above for next as well.

snapshot
Note
PRISM AJ-Ribbon (Acceleration/Jerk Ribbon) still looking weak atm. Although, the red "jerk" oscillator looks like it wants to turn around; but acceleration is presently still heading into the negative.
Note
Basically ICX is highly correlated to BTC's price movement atm.
So need to also look at BTC chart.
Order cancelled
Hypothesis invalidated, since price have dipped back into the channel along with BTC, while BTC have setup a lower low.
Note
Second look after BTC pump:
snapshot

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.