ICX "Cup and Handle Formation", Bullish Signs Indicate a Run

Taking a look at how ICX has retraced from its ATH, its retraced and bounced of the 61.8 Fib level, indicating a strong support level in the 61.8% and 50% retracement range. Taking a look at the RSI, ICX bounced off of the 61.8 retracement forming higher lows indicating a bullish divergence. The MACD also looks promising showing a bullish divergence which could cross towards the upside. All these signs alongside a RSI sitting near the 50's increase a probability of a move towards the upside.

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Taking a look at the price action, It appears as if ICX attempted to breakout with a smaller cup and handle formation and is headed to retest its support at the 61.8% retracement of .00040. If you are still holding ICX, I commend you for you your patience, as ICX has retraced pretty strongly during the recent BTC drama, it is approaching an area of being highly oversold. While the TA has broken away from my initial cup and handle formation, I still recommend long with the time table of a break out towards .0007 within the coming weeks. Remember this game is about patience, ICX is still relatively new, has a great team, and huge potential for the upside.