Someone with enormous capital is watching/buying BINANCE:ICXBTC.
After we hit our temporary bottom at 0.0004303, an enormous buy order was executed at the very next confirmation of our higher-low pattern.
We're finally seeing some dip-buying lower wicks to rival the enormous profit-taking upper wicks we've seen lately.
Someone is accumulating ICX, and with good reason. Six Icon initial coin offerings ("ICOs") will launch soon, some as soon as Q2 2018, one of which is with world-leading video game developer Smilegate.
ICX has traded as high as $12, or 0.00093. icon.foundation
Great analysis, also holding my ICX, it has alway been a good trade and big potential in it. Just crossed the EMA on Bollinger band. healthy setup to rise ;)
Good pickup. Now the question remains is he just pumping and dumping or in it for a big run up.
fittsjk
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@hawkins1, Cheers! We'll know very soon, I think. There's a lot of work to break out of our key resistance, but whoever this person/people is/are, they bought at a *perfect* time. I'd say it looks institutional, following up on the even bigger volume at the bottom of the dip (see 4HR chart). They've potentially got a big ol' cushion between them and a stop loss right now, and if BTC continues to look healthy, I don't see why they won't ride it up. That said, the absolute *killer* of ICX gains in the last month have been those long upper wicks --desperation profit-taking. Let's hope, whoever this whale is, they understand that this is a stellar project.
helpfox
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@fittsjk, Interesting point. What is your view on the next 24 hours on ICX? I have noticed great coins being pumped and dumped more often in 2018. Smart money is taking control.
fittsjk
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@helpfox, As always, this isn't financial advise. Always conduct your own research and analysis. I'm just a dude on the internet. That said...
The pump 'n dumpin' that's been going on has been, in my opinion, weakhand fear purely in correlation to BTC's correction. Whales have been buying the $#!% out of this correction, and now that we've (hopefully) hit an algo-bottom, their buys should be a lot clearer.
In terms of the next 24 hours, we've got some great bullish action going on right now. Key resistance is 0.0005299, and we need to hold 0.0005004 to keep the higher high/low patter. Unless we see some bullish momentum on BTC, I'm not sure we'll break it. Prepare for as many scenarios as possible!