ICX-BTC CHART - A Different Perspective

Have a look at the monthly chart of ICX vis-a-vis BTC. Rising from the bottom are 4 clear resistance levels. Price has crossed above the 20 Month SMA, which is a very bullish sign. Reversal on card?

Assume that BTC tops in this cycle at, say $120K and retraces for the time being by 50% and trades near 80K level. It is at this time that the Alts will go parabolic.

Now if we consider the different resistance level of ICX-BTC chart, we may witness the price of ICX in terms of USDT as such:-

Scenario 1

@ 0.00009796, ICX will have a price of 0.00009796 x $80000 = $7.83

Scenario 2 - 0.382

@ 0.00032572, ICX will have a price of 0.00032572 x $ 80000 = $26.05

Scenario 3 - 1

@ 0.00075890, ICX will have a price of 0.00075890 x $80000 = $60.71

Scenario 4 - 1.618

@ 0.00121828, ICX will have a price of 0.0012121828 x $80000 = $97.46

Scenario 5 - 2.618

@ 0.00196057, ICX will have a price of 0.00196057 x $80000 = 156.84

Now, if we consider the theory of Fibonacci retracement, it can be said that 1.618 is the most appropriate level which may be achieved in this ensuing rally.

What do you think?

Just DYOR and get going....

As per my personal view, we may witness the happening of Scenario 4

Happy investing