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Icon has found the bottom at 2140 satoshis and under the heavy volume went up, breaking above the downtrend trendline . Price has reached 4744 satoshis high and corrected back to 2900 satoshis, which is the breakout point of the downtrend trendline .
There price has formed a bullish divergence on the RSI oscillator, suggesting that the uptrend is likely to continue. The first strong resistance is seen at 227.2% Fibonacci retracement , that is 7200 satoshis area. Break and close above that resistance would most likely trigger a heavy uptrend resulting in the exponential growth. On the other hand rejection should result in a correction or a consolidation.
Break and close below 2500 satoshis should invalidate short term bullish outlook and could extend the consolidation and perhaps send ICX/BTC slightly lower.
There price has formed a bullish divergence on the RSI oscillator, suggesting that the uptrend is likely to continue. The first strong resistance is seen at 227.2% Fibonacci retracement , that is 7200 satoshis area. Break and close above that resistance would most likely trigger a heavy uptrend resulting in the exponential growth. On the other hand rejection should result in a correction or a consolidation.
Break and close below 2500 satoshis should invalidate short term bullish outlook and could extend the consolidation and perhaps send ICX/BTC slightly lower.
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A_Cryptastic_Mind
Nice way of visualising! Target would coincide with my cup & handle scenario:
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HiTech
A_Cryptastic_Mind
@A_Cryptastic_Mind, possibly, but after it should skyroket
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A_Cryptastic_Mind
HiTech
@HiTech, sure, we also have the ICO platform launch and IISS coming up, as fundamental catalysts (april 30 +-)
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