Short ICX Potential bearish trade

Due to the recent huge up swing because of the new president of South Korea, this coin gain a lot of up momentum. However if we look at the current market situation, there is a higher chance that the price is going to decline from the top, due to general crypto movement direction.

Today is going to be CPI release, which is forecasted to be negative and next week we will have the interest rates changes, which overall they have a very bearish nature.

So I believe at the moment ICX is one with the best risk reward ratios for a short swing trade.


Key points:
Stop loss levels : Above 1 or above 1.10 if we want to play extra safe
Take profit 1 : Below 0.85
Take profit 2 : Below 0.8
Take profit 3: Below 0.7