ICX/BTC 11.17.18 (patience, patience, patience)Looking at the daily on Binance we see Icon has broken all previous support levels. RSI is as low as it's been since August. We had an increase of bearish volume midweek and a daily decline since then. In August we did see the RSI reach lower levels before the eventual bounce which was about 95%.
The bottom probably isn't in yet especially if BTC dives down further. I'm looking for signs of a short term bounce. We're looking at seven straight red days with an almost inconsequential single green candle occurring after multiple red days before. I'm not looking to call the bottom. So we patiently wait and watch and have funds waiting in fiat or stablecoin, we logically construct our entrance and exit points, we set stop losses and profit taking targets, and we execute when the time is right regardless of in the moment emotional fluctuation.
These are difficult times to be trading bullish. Don't rush into any setups. Take your time. Consider all the tools in your shed; look at previous resistance and support, consider indicators, use fib levels, draw trend lines, constantly adjust as new information is provided. Weigh as many possibilities in your mind as possible, pick them apart one by one, and decide why any one possibility might be more likely than another. DYOR. Good setups come to you. Don't chase them.
