ICPUSD
Falling wedge patternAs I always harp on about, you should have a very distinct idea of where your stop loss will be placed when you trade any position, and wedges are no exception.
One of the most common areas to place your stop loss when trading wedge patterns is just above or below the retracement immediately prior to the breakout. This is the point at which the market has proven your setup invalid.
The below image illustrates a common area where traders tend to place their stops.
ICP shortTotal Market:
- Falling back during consolidation, expecting another retest of support
Daily:
- Broke below daily support
4H:
- broke below support, retested and turned resistance, got rejected @ 20 EMA & formed a bearish engulfing candle close. Current 4H candle currently rejecting higher with wick
1H:
- Had Bearish engulfing breaking out of short term uptrend line
Trade Management:
- Plan on adding to position upon breakout of low / 1.0 fib extension level
Stop loss: 18.81
- Inside of strong previous support, above local high
Take profit: 13.44
- 1.618 fib extension level (all time low so dont have price to the left to use as a potential target point)
ICPUSDT - Broadening Wedge PatternICPUSDT (4h Chart) Technical analysis
ICPUSDT (4h Chart) Currently trading at $20.75
Buy level: Above $20.8
Stop loss: Below $19
TP1: $22
TP2: $23.4
TP3: $24.6
TP4 : $26.5
Max Leverage 3x
Always keep Stop loss
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ICP/USDTOn a daily timeframe, ICP is trading near the major support of $38 - $40 and has already tested it. You can open the position near the support area. The local resistance is $44 area, and the major resistance is $48.5 - $50 area. ICPUSDT is suitable for the mid-term. The next support after $38 is the $34.
ICP falling wedge1W/1D Charts
ICP forming a falling wedge with contracting price action and higher volume coming in at the low.
Bullish divergence on the MADC daily and current weekly candle is engulfing.
This ones been falling since inception so would want to see a clear reversal before buying into it.
Ive bought a small amount at $20 to continue to DCA into my position
Internet Computer (ICP) 's 5 tasks on the 4h chartICP's 5 tasks on the 4h chart
1. break the EMA125
2. break the RSI resistance
3. break the OBV resistance
4. break the volume resistance $25.20
5. confirm breakouts and have fun
What do you think? 😎
Drop me a nice comment if you'd like me to analyze any other cryptocurrency.
*not financial advice
do your own research before investing
ICP forecast and possible price movements variantsTheoretically, the price of ICPUSDT is trying to find the bottom and round up.
Increased trading volumes signal that a struggle between buyers and sellers begins near important levels.
The history of ICPUSD is not very long and there has not been a clear historical minimum yet, we can only guess about "the bottom of the price of ICP" and forecast several variants of the price movement in the future.
This is what we will do:
1. Yesterday when the BTCUSDT price went down, the ICPUSDT price was holding quite well and pushing up - this is a good signal that there are still buyers, who are interested in ICP.
2. If the enthusiasm of buyers for ICP will not fade in the coming days, then from above we can meet the zone of $28-31, where sellers can aggressively activate.
If the buyers win the area of $28-31 and fix the price of ICPUSD above it, it will mean that the buyers are very strong, and they managed to break the falling trend. In this case, the target for growth is up to $56-57.
4. Smooth movement to the right with a gradual and not sharp rise in price will round up and reverse the trend, but before mid-spring you should not expect a more or less decent price to sell your ICP.
5. The price drop below $19 will mean that buyers have given up, and without a buyback, ICPUSDT price can continue to go down, up to $11 in the most negative scenario.
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ICP - Internet Computer Protocol - HoldThis is an interesting one to watch, just going off TA this is a buy I don't even have to view the project (hold)
CRYPTOCAP:ICP
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ICP/USD (REQUESTED CHART 5)! BULLISH!ICP looks good here. Currently, hovering near the lower trendline of the big falling wedge.
It is trading inside a falling wedge like structure. Also, a bullish divergence occur in 2D time frame. So it is worth buying here and SL will be if any 2D candle closes below $18.5
If you are holding this then hold it with the given SL.
If you want to buy then buy now and hold it with given SL.
If you like this idea then show your support with like and follow.
Thank You!
ICP - is going to breakout this resistance?A trend line can be identified on the ICP chart. Yesterday the price made a false breakout after which the price corrected slightly. In case of a squeeze and a repeat breakout, there could be a good buying opportunity. A squeeze and breakout of the key level of $22 could also be a good buying opportunity.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.
ICP Most bullish chart in top 100?Okay, everybody is super bearish right now and bullish perspectives are far and wide. Hopefully we can separate ours emotions from what's happening in the charts and see that ICP actually has an extremely bullish set up and you may not get another chance until the real bear market to buy at these prices.
Note: I normally use log charts but I'm finding that a linear chart works better. So you will see some of my previous analysis on log charts but I am going to be switching to linear charts from now on.
1) ICP broke out of a long term diagonal line of resistance in the beginning of January. You could say the most recent drop was simply a bullish retest of the diagonal line of resistance.
2) The break out was a bullish breakout out of a falling wedge. UNLESS this is a fake-out we can expect expect to see prices go to the red box.
3)Volume has picked up significantly. Signaling that the break out was not a fake out.
4)Weekly RSI is bullish af. It's in deep oversold territory plus the bullish divergence is really out of control.
How can you look at this set up and be bearish? Of course anything can happen and BTC just brings the market down further but if we take our emotions out of the equation and only look at ICP's chart. This might be the best set up in the top 100 cryptos.
What do we need to see happen?
We nee to see a clear break out of the $38 range. Until then we're just messing around in the dirt. A break of $38 and holding it as support is as bullish of a confirmation as you could as for.
2 Scenario for ICPICP is a victim of VC's. I have no idea why the the team messed up on tokenomics so much. I believe ICP drawing a Falling Wedge on Log Scale. It touched the lower band of that falling wedge. Since it is a long run investment for me, I bought some ICP on 19$. There is a FED meeting on 26 and I believe Market will decide its direction after that meeting.
In any case, Lets make our guesses.
Scenerio 1: ICP will increase to the 30$ range and break that pattern to upside and more increase can be expected.
Scenerio 2: ICP will increase to the 30$ range and fall back to the lower band again... I hope not, but I am still saving some money for this case.
This is my trial. Not a financial adviice.
ICP ready to explodeICP recently had strong move upwards after touching ~21$ This was supported by big volume. But due to recent price action of BTC the Dfinity token has taken a dip, but is being supported stronger than BTC!! while btc is down -5% icp is only trading around -3%
and this is at suddenly lower volume than the previous move upwards.
imo, current price (anywhere below 24$) is a great price for ICP.
We could still see some movement downwards in BTC which leads me to believe we could see between 21 - 22 for ICP..
but hard to know now. Keep watching btc movement closely.. soon as BTC bears are exausted, ICP will move up very quickly.
Good day,