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Icx

ICXBTC Fractals | Potential Bottom Formation! Hello Traders, Today’s chart update will be on ICXBTC, where potential fractals are playing out. We have local resistance formed, followed by a dump retracing back to the .236 Fibonacci level and dumping again. ICX may be on the verge of dumping again according to the fractals however we do see bear impulses declining significantly on each dump, could this be the bottom forming? Points to consider - Trend bearish on daily - Resistance at the .50 Fibonacci level - New trend line acting as local support - Stochs showing downwards projection - RSI testing trend line - EMA’s natural at current time - Seller getting exhausted - Volume is declining ICX is in an interesting position on the chart where there are indictors pointing towards a bottom formation… The daily trend needs to put in higher lows to change the trend which can be achieved through breaking the .50 Fibonacci level, which is currently being test right now. We have a new trend line being established. This needs to hold otherwise price will be bearish if broken, putting emphasis on the fractals coming to fruition. The RSI is currently testing its trend line, a hold and respect of this trend line will greatly increase the probability of this being the bottom. The EMA’s is neutral at currently give time, price is trading within it as we don’t have a clear cross and direction. Most noticeably, IMO, is that these fractals are losing steam as the bear impulses are getting smaller. If price holds and respects the trend line and puts in a higher low,that would be really bullish, a potential local bottom will be in place, however this needs to be confirmed with having an increase in bull volume… What are your thoughts? Please leave a like and comment
Long
by AzizKhanZamani
ICXBTC Ascending Triangle | Bull Volume?Hello Traders! Today’s chart update will be on ICXBTC pairings, Potential Ascending Triangle, Points to consider, - Trend currently bullish on 240 timeframe - New Higher Low potentially in place - Structural resistance in confluence with .382 Fibonacci Level - Stochastics showing upwards momentum - RSI bouncing of local support - Volume extremely low - EMA’s holding price support but looks weak - Potential Ascending triangle forming (bullish pattern) ICX/BTC pairings has being putting in structural lower highs coming into a major resistance zone that is in confluence with the .382 Fibonacci level, a break will only come to fruition if we see an increase in volume, which is currently below average… The stochastics currently has momentum projected upwards, which is necessary as ICX is currently testing it’s upwards trend line, putting in its next potential higher low. The RSI is quite neutral as it bounces of current local support; we do need a third touch to confirm its significance though. The EMA’s are trying to hold price as support, however does look quite weak as we don’t have the required bull volume as of yet. Price action overall looks like its forming a potential Ascending Triangle, which will break bullish from local resistance if volume shows up, otherwise a fake out will be on the cards. A break can see us test the .50 and .618 Fibonacci levels respectively, as these levels are off significance compared to previous price action. What are your thoughts? Will ICX break bullish when testing resistance, or will lack of volume reject price? Please leave a like and comment And remember Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment - Joe Vidich
Long
by AzizKhanZamani
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