Panjang

ICX long - upwards channel

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Some potential with the new upwards trending channel, which broke out from the descending channel after the 47k sat high. Buy the bottom of this channel, sell the top (or around 31500-32000 depending on the order book) and rebuy the bottom for accumulation. Stop loss around 28400 sats or if the channel breaks decisively. An upwards breakout from the channel might lead to price movements to 34-37k sats or higher. Still in an overall downtrend from the January ATH as identified by MagicPoopCannon, would need to get to 45k or so to break out. In terms of fundamental analysis, ICX missed their Q1 goals of a mobile wallet and token swap, so we can assume those are probably coming this month, and will certainly cause a pump.

Nota

Since this was published, ICX has broken below this channel. Still holding well above 29k sats, but at this point the channel should be considered invalid.

Nota

While the pattern identified was invalidated, ICXBTC now pumping nicely and above 31500 sats as I write this.

ThulsaDoom

Penafian

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