ICX/USDT Mid-Term Trading. Channel. Potential cup.

25 Jul 2021

Timeframe 1 day. Important reversal or trend continuation zone. The price is now in the lower part of the uptrend channel with a large step, which has formed a secondary trend.

The coin has been in a downtrend since May, currently in the lower part of the large channel. A local double bottom has formed in this area, which in the case of a breakout of the downtrend resistance will become a local reversal formation.

A breakout of the zone of the local high level of the top and preservation of the upward trend will give the potential to form a cup in a large channel.

The price's breakthrough of the dynamic support of the uptrend (green) and fixation of the price under it (continuation of the downtrend) will give the potential to work short to the level shown in the zone. It is worth noting that even after a 2-month correction, the price is now about +400% of the average values of the "smart money" set.

ICX/USDT Main Trend (Part) Timeframe 1 week

4 Ogo 2021

Nota

+21% from a breakout of the downtrend. The price reached the resistance zone of $1.05 crossing the dynamic support line (mirror resistance level now) of the inner channel and the resistance zone of the local figure double bottom W. Important zone. As we can see the price stopped at this resistance zone for 5 days. If we do not break through - lateral movement along the bottom of the uptrend channel (follow the uptrend) , if we break through, the target of the double bottom is about +60% (the 3rd phase of the cup)

18 Ogo 2021

Nota

+60% formed a harmonious bear crab pattern. The price levels on which the further development of the price movement depends on is shown on the chart by arrows.

10 Sep 2021

Nota

+160% The price reached exactly the 2.31 level (cup resistance + internal uptrend channel resistance). Note the huge buyer volume compared to previous trades on this squeeze.

2 Nov 2021

Nota

+160% from the secondary trend reversal. A large ascending triangle with the base of 100% was formed under the cup resistance. At the moment it is breaking through, the resistance level of 2.317