ICXBTC PA is trying to keep insider the ascendant channel. Most of the daily indicators tell me that continuation of the trend is mandatory. However, 4H, 12H and some indicators give info about a last up till middle line of the channel before breaking the chanel itself.
Red rectangle is a confluence:
- Middle point of channel.
- 0.5-0.618 fib level (not in the chart)
- 55EMA
- Resistance trendline (not in the chart).
Red rectangle is where i would get out of a position if i were holding ICX against BTC.
Indicators telling continuation bear trend:
- MACD: Signal line crossing ZERO.
- ADX: Sideways with DI- dominating.
- RSI below 50.
- 21 and 55EMA over PA acting as a resistance.
The only indicator i see as an alarm for bears is stoch, that is on oversold position in a sideways market.
Red rectangle is a confluence:
- Middle point of channel.
- 0.5-0.618 fib level (not in the chart)
- 55EMA
- Resistance trendline (not in the chart).
Red rectangle is where i would get out of a position if i were holding ICX against BTC.
Indicators telling continuation bear trend:
- MACD: Signal line crossing ZERO.
- ADX: Sideways with DI- dominating.
- RSI below 50.
- 21 and 55EMA over PA acting as a resistance.
The only indicator i see as an alarm for bears is stoch, that is on oversold position in a sideways market.