SUMMARY
ICONONMI (ICN) is due for a correction. However, it's quite beautiful as the setup would be highly bullish. The key is to view and understand these corrections as a gift...an invitation to BTFD. That means you need cash! Constant sustaining of 10% to 15% of a portfolio as USD or EU would be ideal as it would empower you to step in and buy the dips while the "innocent and the idiots" are freaking out at every few percentages of decline. I really like ICN and once the wave 2 correction is complete, it would be an ideal setup to catch the wave 3 towards $17.27 and then wave 5 at $21.74 or higher!
The ICN/BTC is also about ready to correct and the synchronicity to ICN/USD is quite bullish. Often, the /BTC pair lags the /USD pair; however, the synchronicity reflects that demand for ICN could outstrip the rate of coming rise of Bitcoin. Target is set at 91,754 Satoshi.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Disclaimer: 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.**