ICON (ICX) Overview
ICON is a decentralized blockchain network focused on interoperability. With ICON’s “blockchain transmission protocol”, independent blockchains like Bitcoin and Ethereum can connect and transact with each other. This opens up cross-chain use cases that are impossible without an interoperability layer like ICON.
ICON Network describes itself as a general-purpose blockchain protocol based on the native cryptocurrency ICX that can run smart contracts, adopt the BFT-DPoS (Delegated Proof-of-Stake) consensus protocol, and use an economic-governance protocol called DPoC (Delegated Proof-of-Contribution). The ICON Network is powered by a proprietary blockchain engine called 'loopchain' and has the ability to handle hundreds of transactions per second. The ICON project was started to ensure the integrity and transparency of data shared between institutions and companies, and to move mutual assets on heterogeneous blockchains without a centralized organization. In the long term, ICON Network aims to become an 'interchain' that connects multiple blockchains based on BTP technology.
The ICON blockchain is powered by loopchain, a blockchain engine designed by ICONLOOP. ICONLOOP is responsible for loopchain’s government and enterprise adoption in South Korea. Loopchain is the Seoul Metropolitan Government’s standard blockchain platform.
ICON (ICXBTC) Chart Analysis
For your learning and entertainment, we are going to be looking at the "Falling wedge" pattern today... This is very common in crypto.
It is marked with orange dotted and dashed lines...
Now let's have a closer look:
- Ok... The Falling wedge is now broken which is a bullish signal.
- We follow with a strong RSI and rising MACD (some of our classic signals). It becomes repetitive, but just to show you how easy it is...
- We can see that the trading volume is still low but above average the past two weeks.
- We were having a strong decline (falling wedge) but prices have now gone flat. After flat you normally get a bullish move.
- And we can see prices slowly increasing now trading above EMA10, EMA21, and challenging EMA50.
I normally like to get these when the price is lower because this can still consolidate for a few more weeks, going in the range of 0.00001300 - 0.00001800 before any major moves...
For some people, it might seem shaky having 20-40% room for prices to swing but this cryptocurrency and the movements tend to be big.
This is how this market works. The standard price move on a breakout or breakdown is 25% to 30%+... When you have a strong move, it goes to 50%, 80%, and even 100%+.
Here we have a falling wedge and a bullish/strong RSI with prices now trading above EMA10/21... These signals are good and strong enough for us to JUMP IN, FOLLOW ME!
ICON (ICXBTC) PREMIUM Trade Numbers
Buy-in: 0.00001650 - 0.00001850 (1820)
Next support: 0.00001350 - 0.00001510
1) 0.00002050 |Hit 18-Jan. (+13%)
2) 0.00002550 |Hit 21-Jan. (+40%)
3) 0.00003400 |Hit 11-Feb. (+87%)
4) 0.00004710 |Hit 18-Feb. (+159%) |Hit 10-Sept.
*) 0.00005414 |Hit 14-Mar. (+199%)
Potential profits: 586%
Capital allocation: <10%.
IT IS POSSIBLE TO WIN!
Many of you have a bad story to begin with...
You might think it is hard for me to relate but that is not the case.
Have you ever wondered why sometimes I seem to be very tough?
Or why I don't take to crying when a trade goes bad and money is lost...
I've been down too many times before, I can feel your pain...
I know what it means to take a loss.
This experience only made me stronger, losing, suffering a million times over...
But I never blamed it on anyone.
Even if there was somebody else involved, I would take responsibility for my part and make a note to not fall prey to the same mistakes from now on.
It is true, yes... Some trades can't be won...
But blaming someone else won't make you any money nor it will help you win on the next call.
We are all responsible for our own actions, it is possible to win if we know what we are looking for.
I started at the bottom, deep, deep, deep down and I lost hundreds of times, even my full capital over and over before I was able to become a winner and be at the TOP.
I am not saying that you have to lose everything over and over yourself...
I am just saying that if you lose, it is ok...
Learn from your mistakes, take the loss, move on, and come back to win... That's what I say.
Do not let a bad moment or situation take you down, because there is always more.
Fight hard if this is not your moment or what you are looking for.
In the end, it is impossible to win only if you give up.
You can win now because you haven't given up.
If your trades are no longer good, start from scratch, reduce the numbers, tweak any mistakes, build up some patience...
And we will see how it goes.