BINANCE:ICXBTC proceeded with its correction from the beginning of the month as suspected; although it was much more significant than anticipated (see below). An end to the correction w/large run is considerably more likely than further decrease (although symmetric triangle possible). With the recent growth of BTC & alt market, ICX will be among the group to have the largest potential growth. The question of interest is not whether ICX can endure, but rather "when" and "how much" it will grow. A break in the top would be a more than comfortable confirmation to consider entry into a position.
-end of corrective period
-Price-T&K bull cross (minor & early interpretation)
CAUTIONS & CONFIRMATIONS
-end of Corrective Wave w/suspected new start to Impulse Wave
-T&K bull cross & Price-Cloud bull entry & breakout to confirm large sentiment
- current red cloud selling pressure may drive price down (followed by testing of bottom )
Entry @ 4700
Note: This entry is a premature. It is advised that further buy confirmations w/bear signals challenged before entry.
The possibility of a Bearish Descending Triangle was forewarned as the price dropped below the bottom support. The 0.382 Fibonacci was also broken through & stop-loss was triggered. Loyal long-term investors will continue averaging down as ICX will more likely than not, rebound with price expectations to surpass the all-time-high within 2018.
Exit @ 4100