ICON will it have the legs?ICX has been good to us lately how ever we dropped our trade at that level of resistance there at 750 a week ago with the intentions of buying back on a descent retrace.
It didn't drop far or have any major reaction to the BTC dip the other day and bounced off the 38 already and is already testing those highs again.
We may have to run 2 different strategies here with this, if we can break this last high i can see a fairly impulsive move to that level of supply purely because of a lack of market structure to the left so i will be looking for a break out trade and trying to catch that last 30% or so.
On the other hand on the smaller time frames we could be heading for a double top rejection here and heading back down for that retrace we are after and hopefully its descent enough to come back down to around the 6300 sat mark for a nice bounce off the 618.
CCI looks like it may be geeing up for another push but it also needs a cool off from the last swing high imo.
