On early February 2019, ICON (ICXBTC) started its first strong bullish wave since the last cryptocurrency market bull run back in late 2017 / early 2018.
This wave generated over 89% profits from bottom to top and ended on the 10 March with a peak at 0.0000990... ICXBTC has been retracing since.
Yesterday after 42 days of retrace a big green candle showed up. This candlestick managed to break above EMA10 with good volume and also challenged EMA50 and EMA100.
Both the MACD and RSI look healthy for additional bullish action.
On the other hand, a close below 0.0000730 can turn this set up from bullish to bearish. And a close below 0.0000660 would completely invalidate all of the above signals, a new analysis would be needed.
So ICXBTC is looking bullish with room to continue moving up. Depending on how the market/Bitcoin moves, this altcoin also has the potential to break its last high relatively quickly, in a matter of weeks.
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