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ICPUSDT trade ideas

🔥 ICP Long-Term Trend Shift: Short-Squeeze PotentialIn the past I've written many times about ICP's terrible performance and price action. It was one of the worst performing tokens of the last 2.5 years, with a serious risk of never going up again. But, where there's pain, there's also opportunity. With ICP losing over 99% in value in 2.5 years, it has some serious potential to pump. Not saying that we're going to see new all-time highs, but a move towards 100$ is still in the cards. The weekly RSI has hit it's highest level since ICP started trading on Binance. This is a bullish metric in itself. Furthermore, with ICP being so weak, it was a shorter's dream come true. I reckon there's a lot of shorts currently wondering whether to close their short position or to leave it open. If BTC (and alts) continue to rise, ICP will rise with it, making more and more shorters close their positions, which leads to even more bullish price action since they have to buy their positions back. This could cause a short-squeeze in ICP's price. All in all, I think it's quite possible that ICP's lows are in and that we're going to see a long-term trend shift.
Long
by FieryTrading
6
ICPUSDT"As we enter the bullish season, the initial target to aim for is target : 68 🎯. This is based on a combination of technical analysis indicators and market trends. However, it's important to approach trading with caution and adapt to changing market conditions. Keep an eye on key support and resistance levels, as well as any significant news or events that may impact the market. Remember to use proper risk management techniques and consider setting profit targets along the way. Happy trading!"
by MKO_Trading
ICP Shakeout Below Pivot: BULLISH🚀 Internet Computer (ICP) has charted a promising course in the crypto waters with a significant breakout pattern – the cup and handle. This bullish setup, combined with a substantial triangle breakout, suggests that ICP is gearing up for a significant uptrend in the near future. 🌐🚀 Setting the Stage: The Triangle Breakout ICP recently made a notable move by breaking out from a substantial triangle pattern, signifying a potential shift in its price trend. Triangle breakouts are essential indicators of impending price movement, offering traders and investors an opportunity to capitalize on emerging trends. Cup and Handle: A Bullish Prelude Adding to this momentum, ICP displayed an intriguing cup and handle formation on its daily chart. The cup and handle pattern is a classic sign of a bullish trend continuation. It reflects a temporary consolidation phase, like sipping from a cup, followed by a strong, upward move, akin to the handle of the cup. This pattern is revered for its potential to push prices higher. Trading Strategy: Navigating the Crypto Seas For traders and investors, ICP's recent price action and patterns are noteworthy. It's crucial to observe these developments and consider them as part of a comprehensive trading strategy. Implement effective risk management to navigate the often unpredictable crypto market. Conclusion: ICP's Voyage Into Bright Waters Internet Computer (ICP) is embarking on a voyage into brighter waters, marked by a triumphant triangle breakout and a classic cup and handle formation. These patterns signal the potential for bullish price movement in the coming days and weeks. 🚀 Crypto Insights | 💡 Trading Strategies | 💰 Market Analysis ❗See related ideas below❗ Feel free to share your thoughts and insights on ICP's chart developments. . 💚🚀💚
Long
by Yaroslav_Krasko
1
ICP/USDT Break the descending channel, Bullish Momentum for ICP 💎 ICP has certainly grabbed our attention. Currently, ICP has broken out of the descending channel pattern, marked by a robust volume and a pronounced green candle. As it stands, ICP is positioned between supply and demand zones, making it prudent for us to await further confirmation. 💎 While ICP hasn't yet undergone a retesting phase post-breakout, there's a likelihood it might gravitate towards the demand level at $2.983 for a healthy correction, setting the stage for a potential upward surge. However, should ICP directly breach the supply zone, it could swiftly ascend to the next supply level. 💎 On the downside, if ICP exhibits a false breakout and the demand zone fails to hold against selling pressure, ICP might revert to the strong support zone. The bullish outlook would be jeopardized if this support is breached and a candle closes beneath it.
by MyCryptoParadise
ICP: Approaching ResistanceThe Internet Computer (ICP) technical analysis: Trade setup : Following a bullish breakout from Falling Wedge pattern, price has reached our target of $3.50. It is now overbought (RSI ~ 70) and could pause briefly. Trends are improving but price needs to break above the 200-day moving average (~$4.16) to confirm an Uptrend. Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Trend : Uptrend on Short-Term basis, Neutral on Medium-Term basis and Downtrend on Long-Term basis. Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $2.87. The nearest Resistance Zone is $3.50, which it broke, then $4.50, and $5.00.
Long
by altFINS