Icon ICX leaving its downtrend? (hourly log chart)

2020年2月19日

WHY mention ICX now? --> Exiting the 2 weeks of downwards channel ... might mean a new upwards trend.

* LIGHTBLUE broken out of down channel top

Alternatively it could first go sideways for a while, e.g. between 3700 and 4000 (zoom in on 15 minutes chart).

Or (which I don't believe but it's possible) breaking out of the channel FAILS ... then it could fall, but probably not further down than approx 3400:

* PURPLE trend line was the FIRST (i.e. last unbroken) one, of 6 accelerating trends, during its parabolic rise, early February 2020
* BLUE horizontal at 2750 was an August 2019 peak.

2020年2月19日

註釋

Looks like the slightly downtrending PINK channel gets invalidated as we speak:

2020年2月19日

註釋

Now the slightly uptrending BLUE channel got invalidated. Whew this WANTS to rise.

2020年2月19日

註釋

It doesn't even want to stay within the steep YELLOW channel

2020年2月19日

註釋

even steeper. Icon ICX you are too fast

2020年2月19日

註釋

I have never before used FibRetracements. Have I done this right ???

The 61.8% level 5248 coincides with a support 5210 from one year ago; and at 5225 it got reflected during the bull trap on Feb 5th at 13:00 UTC.

Or how do I apply Fibonacci Retracements correctly?

So above ~5200 Satoshi, take profits, I guess?
Or 4999 might be a good moment to exit (see the resistance on Feb 6th, and it's a whole number) ?

Any opinions?

2020年2月21日

註釋

ICXBTC just crossed over its Wednesday peak (afterwards Binance was offline, and then BTCUSD dumped). It looks like the pump might continue:

2020年2月21日

註釋

ICXUSD, the USD pair of Icon, might be crossing out of the top of its 17 days downwards channel (BLUE) right now: