I am wondering what will happen to ICX when we look at the 4-hour chart. If we look at the chart we see that the volume is fallen and the MACD is currently bearish. On the other hand, ICX remained above the 50-EMA despite the huge sell-off after the 300% pump. I am waiting for more clear signs to take a position. What do you guys think?
By the way, another reason for the recent price correction, is a whale selling $5 million worth of BTC on BitMEX ( 7th of Feb) leading to BTC price drop and hence ICX price drop. Most people having no knowledge of that move, mistakenly started selling ICX cause they thought it was due to ICX overselling.
Technical-Difficulties
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@fpunx, a 5million sell order of BTc will hardly move the markets. just look at the average daily trading volume and ask your self that question.
fpunx
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@Technical-Difficulties, if you distribute the ammount over 24hours, I totally agree that it wont make any difference, but if you make the sale inside a timeframe of 15mins it will generate a reversed spike as it did. It's not theory, it's an event, you can check it out yourself. The sell took place at the same time the price dropped.
Technical-Difficulties
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@fpunx, no one with that kind of money will put a market sell order unless they are really that stupid. you could also be selling on multiple exchanges.
fpunx
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@Technical-Difficulties, we can save the talk, just google it, true story >> BitMEX BTC Whale: $5,000,000 worth of #Bitcoin sold at $9,749.69 12:13:43 2020/02/07
Technical-Difficulties
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@fpunx, i didn't say it didnt happen. i'm saying 5 million USD sell order won't budge the price.
Technical-Difficulties
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@fpunx, headlines are reporting noise. you won't get any valuable trading insight from noise. 5 million USD is a whale? please. lol. 15 minute charts? bigger lol
Technical-Difficulties
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@fpunx, you know what splitting hairs is? that's exactly what you're doing. if it was a multi billion dollar order then yes that's something worth paying attention to.
fpunx
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I'm positive that it will start to pump by then 10th of Feb, which means that now is the best time to buy since the price is not going to get any lower.
Since it was once at 0.55, it will get there again in near featre if you consider ther whole bullish attitude of the market at the moment.