ICONOMI (ICN) Analysis Shows a Bullish Breakout in Progress!!
SUMMARY
ICONOMI (ICN/USD) shows two consecutive runs of a descending wedge and these are labeled as Fractal #1 and #2. Note the price rise from the breakout of the first fractal. Can we expect the same from the second?
Fractals have utility in providing options for what are the next probable price pathways. Using the attributes of fractal #1's 600% price rise; extrapolating the same for the second fractal would provide an $8 target. However, given that the second fractal is about 2/3 the size of the first; making the price rise equal to the starting point of the pattern would provide a target of $5.47 or 440%.
Then adding Elliott Waves shows the corrective waves (abc red) in both fractals plus the projected future price pathway of the white impulse 1,2,3,4,5. Only in Cryptosphere can such returns be possible in such timeframes....this would never be in the Stock Market.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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I don’t own these accounts.
@haejin If they are not yours they vote all your posts, so I think they are your friends, I have no way to contact them. If you can, ask to remove the downvote, I'm a small fish, they're hurting much me like that.
If you can do something, I thank you so much!
I honestly don't know them or have had prior contact with them.
Ok thanks for the reply
I hope it does go parabolic now
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You are bullied by @grumpycat on your post.
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Can you do analysis for LISK as well?
Another great post!
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ICN is a good coin for short term trades and making short profits several times a month. ;)
these things sound too complex for me. Help me lord 😭😭
What do you mean?
I am not really into crypto yet, so i thought it would be great to read this piece
But just along the line, things began to sound like rocket science here 😭
crypto now risk able trend. So hold 3-4 month. Then you will underrated crypto future for latest world.
ok thanks @shahreyaz
If you are looking for a simple and practical crypto blog check me out! I'm new here, a lot of content coming soon!
i love that. i would check you up
Can you do analysis for BitcoinZ please?
This is not a bullish break out, it's bearish flag! I'm sure it will plunge to retest low and complete ABC expanding flat:
I'm just curious why in every your analysis I see the same triangle pattern:) As you are EW trader, you should no and some more :)
The expanded flat is too long in time. The symmetrical downward wedge is repeated twice. The second is at current price. The whole construct is 1,2; I,II nested count.
I combine pattern and Elliott Waves!
he (@andriustovis) was right... and you were wrong @haejin :P
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