ICP currently struggling. Be careful at this moment.
Updated
Hey, hey! I am 200% for the project and i believe in it, but we have to follow the chart so we do not get burned.
Currently ICP is struggling and in the next hours or day we will see if we can keep the push upwards or it falls again to its support levels (check chart for info)
The bad: We have a huge head and shoulders pattern on daily chart since 21, July and if it drops we are moving down to $30
There is a small head and shoulders on hourly, if it drops we move down to $40
The hourly volume is showing a decrease in the last 3 days. That is a bearish sign.
If it goes under $42 , then we have broken the upwards channel and moving to $40
The good. We are keeping a new channel that is going up for the last 3 days. If we can break the downwards trendline then ICP is still bullish and not going down. The MacD levels are low on all charts that is always a bullish sign that there is a lot of room to grow.
We still have a hidden bullish divergence on the daily RSI, that is bullish too.
And we are at the bottom of BB bands, that is a sign that there is a room for upside if it can keep its momentum.
Supports zones at: $40 - $37 - $35 - $29
Possible upside: Short term 46-56 $ long term in this last part of bullrun until 2022 spring 300-1200$
Keep it safe and do not overleverage, it mostly ends with u loosing your hard earned money.
Thank you and hit a like and follow if you want me to update you on more on ICP and other great projects. :)
Have a wonderful week!
Currently ICP is struggling and in the next hours or day we will see if we can keep the push upwards or it falls again to its support levels (check chart for info)
The bad: We have a huge head and shoulders pattern on daily chart since 21, July and if it drops we are moving down to $30
There is a small head and shoulders on hourly, if it drops we move down to $40
The hourly volume is showing a decrease in the last 3 days. That is a bearish sign.
If it goes under $42 , then we have broken the upwards channel and moving to $40
The good. We are keeping a new channel that is going up for the last 3 days. If we can break the downwards trendline then ICP is still bullish and not going down. The MacD levels are low on all charts that is always a bullish sign that there is a lot of room to grow.
We still have a hidden bullish divergence on the daily RSI, that is bullish too.
And we are at the bottom of BB bands, that is a sign that there is a room for upside if it can keep its momentum.
Supports zones at: $40 - $37 - $35 - $29
Possible upside: Short term 46-56 $ long term in this last part of bullrun until 2022 spring 300-1200$
Keep it safe and do not overleverage, it mostly ends with u loosing your hard earned money.
Thank you and hit a like and follow if you want me to update you on more on ICP and other great projects. :)
Have a wonderful week!
Note
I don't see ICP going lower than $26 dollars in its future. But its my personal view.So a stop loss at $26 would be okey. If hell rises and it drops under 26, i might rethink my view on this project and i cant even imagine how low could it go.
Note
If ICP can keep the uptrend and we can break the $46-47 then it will finally be over the 180 day EMA, and that is real bullish sign for us to see next targets at 50 - 52 -59Note
And there is a 50 day EMA sitting at 44.40$ , if we brake this in the next hours or day, then i believe we will touch the $46 180day EMA and we can try to brake it finally to upside and move to new heights as we already tried on 5th October but failed. It has been gearing up for this moment.Anyways still keep the bearish scenario in mind
Note
The positive outcome fulfilled just as drawn in chart. If we can break the trendline we might move up more. If not loot at the channel that i have drawn and where it could go next.Note
Seems like BTC is currently in a down trend and this is taking the whole market whit it when it takes its dip down.ICP has made a triple bottom in the last two months, and triple bottom is usually really bullish sign, but taking in consideration the BTC downtrend i have a guess that ICP is struggling at the 40$ zone and it will dip down to 37$ or if it completes the large head and shoulders pattern that is going on since July, then we might go down to around 31$. That is the lowest i see it going in this season. ICP is reaching 250-400$ minimum until end of year. Mid range prognoses 600$, and the most bullish i am seeing it reach 750-1100$ until January end. Thats all looking at Fib levels, and those are 95% right usually.
And it is a bull market, so even if this coin as some say is shit, the minimum it will reach is 250-400$ because all coins go up in bull market runs. And this project has one of the largest and smartest teams of crypto people behind it, and with the news of BTC/ICP smart contracts on the rise at the end of this year, we might see that 1100$ mark. That's what i am aiming for. But at this moment it is taking like 5 months to consolidate in a range of 30-50$, and that usually means that when it pumps, it will look almost the same what Shiba did just now and most people will miss out because they do not want to wait.
Note
And even tho ICP has dipped many times in last month, there is a huge hidden bullish divergence on daily RSI starting since 18 july. So looking by RSI metrics , ICP is slowly and progressively mowing upwards. And MACD levels are so low that when this thing blows, then it will blow hard to the upside.Note
What we need to break and hold above is 48$ range, there is 50 day EMA line, when it crosses it, then upside is inevitable .And on 4h chart 50 day EMA and 180 day EMA are so close all october, that it it trying to make a golden cross, when this happens, then upside is guaranteed.
In the short term i see ICP touching the upper BB bands at 47, and if it doesnt hold it, then we move back down to 40$ once again to touche the lower BB bands.
There is a tough play of many metrics currently that are trying to push it up and down all the time. I think this only means the best when the beast finally wakes up.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.