Icon has already lost 60% to Bitcoin since it reached the all-time high at 9200 satoshis. The downtrend has been stopped at 161.8% Fibonacci retracement applied to the corrective wave down after the ascending channel breakout. Simultaneously the 327.2% Fibonacci channel trendline has also been rejected at the very same price – 3550 satoshis.
This price level could now be the bottom of the correction down. Nevertheless, spikes lower are also possible while the price could reach 3k satoshis for the short time. But, if ICX/BTC will break above the 4.4k satoshis resistance it could be the confirmation that Icon has bottomed out and the price is ready to reverse to the upside.
Source: http://cryptopost.com/icon-vs-bitcoin-hit-the-bottom/
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