A $ICNT 5-minute drop of 5.07%; current price: 0.2012. There are two possible scenarios next:
① If it holds sideways on declining volume and climbs back above the starting point of the drop → this move looks more like a shakeout
② If the rebound is weak and it breaks below the 24-hour low of 0.1344 → the downtrend may continue
I’d personally wait to see how strong the first rebound is before drawing a conclusion. Would you follow along or stay on the sidelines?
Just my personal opinion; don’t use it as a basis for trading.
① If it holds sideways on declining volume and climbs back above the starting point of the drop → this move looks more like a shakeout
② If the rebound is weak and it breaks below the 24-hour low of 0.1344 → the downtrend may continue
I’d personally wait to see how strong the first rebound is before drawing a conclusion. Would you follow along or stay on the sidelines?
Just my personal opinion; don’t use it as a basis for trading.