Swing trading ICX


#321

Some of you think we gonna touch the 30k satoshi before this week-end ?


#322

I’d say 35k. My previous prediction yesterday turned out to be correct. I hope I’m wrong about this one cause that would cause panic


#323

Got yourself a nice position? :drevil:


#324

We might be on a double bottom scenario, barely holding the 2nd to last support line which is 40k sats, below it’d be 39k sats, anything below that 39k is SERIOUS trouble, which IMO ICX is not a bad a bad coin to go below full fib retracement, but who knows, I don’t, I’m just a noob who doesn’t know what I’m talking about lol

RSI also on oversold area, I hope we have a good bounce back.to the 0.382 retracement at the very least.


#325

Secured myself extra 30 ICX on the swing… that’s 50 in two days! Took a little longer this time (around 3 hours) not too bad for my first two attempts at swing trading.


#326

#327

Everytime BTC go up 100$ we lose almost 1k satoshi in the price that’s scary


#328

ICX seems to not be giving a damn about its BTC price… It’s more pegged to its dollar value


#330

oh snap … 37k sats, no bueno


#331

Yeah i dont even trade right now you can’t predict anything


#332

Yesterday I told you all I was going to F- shit up and try my hand at swinging ICX. Looks like I F’d it up hard!


#333

it doesnt have a dollar value as its not tehtered to USD and doesnt have a USDT trading pair.

its US dollar value is a function of bitcoin.


#334

typically alts suffer during BTC bull runs or spikes. this isnt out of the ordinary and most alts are seeing a dip


#335

Yeah I know but i’m talking trading on the 1min chart I almost sell at 37800 and we went up too 38600 in 30 sec


#336

how ? :face_with_raised_eyebrow:


#337

Coz I’m the jinx brotha’!


#338

Agreed, but bepends on trader psychology. If Jo buys a coin because it’s $4 and not because it’s 37k sat then the value for him his dollar pegged. If Jo represents the masses then the important price becomes the dollar value. As I write this though im thinking this phenomenon must not be that big… But still there


#339

The thing is, there is no USD value of Icon… it is a value estimate as a function of bitcoin.

You cant sell icon for US dollars. you need to sell icon for bitcoin and then sell that bitcoin for US dollars.

so ignoring how much bitcoin your ICX is worth really prevents you from understanding the true worth of Icon and its growth or to realize your losses if you are under water.

If ICX goes from $4 to $8 you could still be selling at a substatial loss where as if you waited for a BTC correction upwards you would make alot more money. same is true in the other direction.

you could be costing your self hundreds, thousands, or even tens of thousands of dollars by ignorng satoshi value for coins that dont have USDT trading pairs


#340

Actual picture of me saying goodbye to somehwat good satoshi price on ICX :cry:


#341

How many times does this have to be discussed lol. Its pretty much laughable the number of times this has to be stated.

@bitguy - This is the sign of new traders/investors they do not understand that the dollar value of nearly every coin is pegged to BTC.

Unless there is a market where a coin can be bought and traded against FIAT then its value 100% a function of BTC. LTC/ETH/BTC are the only three that I know of that can be bought and traded against FIAT and still ETH/LTC dollar values are almost solely pegged against BTC. USDT does not count at FIAT.