CRUCIAL POINT TODAY FOR ICX/BTC (TREND & CHANNEL ANALYSIS)

In this 40-day ICX/BTC chart, the most important thing to consider right now is (2). If this orange dotted line is broken with enough aggressiveness, it will be very hard to obtain a bullish breakout any time soon. The (3) Long Term Bullish Support has already been broken and much momentum will be needed to break past that point again and go on upwards towards the historic resistance price of .0008359. For now, we should just wait and see if there is any sideways action around .0006587. If it goes either way hard enough (as marked by the pink arrows), we'll know exactly what this altcoin will do in the near-future and when to buy. Needless to say, a lot of this action is obviously correlated to BTC's individual action and the market's action as a whole. Setting a stop-loss at this point if you've already invested in this particular asset, would be in our personal opinion, premature. We should wait a couple days before jumping to any conclusions. Be smart and do your own research.

The views expressed in this TA are an educational resource of perspective, NOT financial advice.