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ICON! Excellent Bullish Setup!
Hello Traders!
Looking at the 4 hour chart, we see that ICON is in the process of finishing right shoulder of this inverse head and shoulder pattern.
This idea is reinforced by the formation of bull flag formation indicated in the chart (white)
The target for the bull flag breakout is 54150 Satoshi (orange line) and this level has acted heavy resistance december 26th, Jan 5th, Feb 9th, and Feb 17th. This region also overlaps with 50% retracement, so I expect some consolidation before the take off. I will take partial profit if you are conservative trader.
The target for inverse head and shoulders pattern is 7400 Satoshi (78.6 retracement level).
Happy Trading!
Looking at the 4 hour chart, we see that ICON is in the process of finishing right shoulder of this inverse head and shoulder pattern.
This idea is reinforced by the formation of bull flag formation indicated in the chart (white)
The target for the bull flag breakout is 54150 Satoshi (orange line) and this level has acted heavy resistance december 26th, Jan 5th, Feb 9th, and Feb 17th. This region also overlaps with 50% retracement, so I expect some consolidation before the take off. I will take partial profit if you are conservative trader.
The target for inverse head and shoulders pattern is 7400 Satoshi (78.6 retracement level).
Happy Trading!
Note
ICON is looking to break out. Found support at EMA 50. Transaction en cours
Icon just brokeout from the bull flag with high volume in 15 mins chart. 
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.