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Icpusdtanalysis

ICP → Time to Long at $9? A Buy Opportunity Is Waiting!Since my April 24th update, ICP has fallen into a pullback, as expected. We found resistance just shy of $21.00 and then pulled back in two strong legs. Should we be bearish or bullish on ICP? How do we trade this? 🤔 As expected, ICP found resistance at the Resistance Zone of below $21.00 after three strong pushes up followed by a head and shoulders reversal pattern. That reversal pattern played out into a two-legged pullback, leaving us below the Support Zone at a low of $5.80. We now see the price strongly responding to this are and is now above the Support Zone with a strong bullish candle closing on it's high. It's reasonable to enter a long here given that strong bullish candle close. It would not hurt to wait for a confirmation candle but since we've closed above support, you could take a slightly lower probability trade here and have a high probability of hitting the first take profit target of $11.225. Once that target is hit, take half profits at 1:1 Risk/Reward, moving the stop loss up to the entry price, then swinging the latter half of the position to 1:2 Risk/Reward. We also need to watch Bitcoin's sentiment as the price action plays out. I expect Bitcoin will fall into a two-legged pullback to around $40,000-$45,000, which should take the alt market down with it, either keeping it in a trading range or bringing it to lower lows. Until Bitcoin's sentiment shows a clear bull signal after a likely pullback, it's one more indicator we should allow to play out before getting long in DOGE. A final point of data is the RSI low and above the moving average of around 56.00. This indicates we are into the swing high and a long entry at this stage is warranted. 💡 Trade Idea 💡 Long Entry: $8.45 🟥 Stop Loss: $5.675 ✅ Take Profit #1: $11.225 ✅ Take Profit #2: $14.00 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Three legs up toward a resistance zone after a breakout 2. Head and Shoulders reversal pattern 3. Two-legged pullback to the Support Zone at $8.23 4. Long entry justified at current Signal Candle close above Support Zone 5. RSI at 56.00 and above the moving average. Supports a long entry. 💰 Trading Tip 💰 The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
Long
by TraderEngineering
1
Internet Computer | ICP The price of ICP is $ 6.6 today with a 24hour trading volume of 122 million dollars, this represents a 17% price increase since last week and a 31% price increase since last month The Internet Computer blockchain incorporates a radical rethink of blockchain design, powered by innovations in cryptography. It provides the first “World Computer” blockchain that can be used to build almost any Web 2.0 online system or service, and web3 services, including web3 social media services, without any need for centralized traditional IT such as cloud computing services. It also enables smart contracts it hosts to directly create transactions on other blockchains, which in turn enables the full end-to-end decentralization of online services and web3 The project was founded in October 2016 by Dominic Willams and has raised a total of $121 million from investors such as Adreessen Horowitz, Polychain Capital, Multicoin Capital... now lets talk about the chart, as you can see ICP try to break the downtrend (red lines) , the price turned up on April 27 and started a strong recovery. bulls won point of control and candles are above Ema 50 . the RSI has jumped into positive territory as well. bulls also try to hit 6.9 first then 7.5$
by moonypto
24
ICPUSDT Elliott Waves Analysis (Investment idea)Hello friends. Please support my work by clicking the LIKE button👍(If you liked). Also i will appreciate for ur activity. Thank you! Everything on the chart. (update) Everything according plan, we're in global buy zone. Buy zone: 8.5 - 6.5 Targets: 25 - 50 - 90 Cancellation of setup - consolidation under ~3.5 RR: 1 to ~22 risk is justified Good luck everyone! Follow me on TRADINGView, if you don't want to miss my next analysis or signals. It's not financial advice. DYOR!
Long
by trytofeelpositive
3
ICP- Good buying opportunityAs you know from my previous 3-4 posts on BINANCE:ICPUSDT , I am very bullish on this project and expected the price to reach $20. Indeed, this has happened, followed by a strong 50% correction after reaching my target. Now, the price is trading at $12 and is near a strong support level, both technically and psychologically, around $10. In my opinion, these prices offer a good buying opportunity and in the event of a reversal and a retest of the $20 zone, a 100% gain could be achieved.
Long
by Mihai_Iacob
1
ICP → Long at $9!? A Buy Opportunity is Waiting!ICP did not put in a 4th leg since my last analysis and instead, the short opportunity presented itself after the third push on schedule. Should we short here? Previous Analysis: How do we trade this? 🤔 Shorting at the bottom of this bull trend is not ideal. Our short opportunity was at $18 per my last analysis. Now that we're at bull channel support, we need to wait for a breakout to the downside with confirmation support has become resistance. The likely outcome of such a breakout is a 2-legged pullback from the bull channel leading us to the Support Zone. We should be looking for long positions at this point. With Bitcoin and the crypto market cooling off, we should expect more downside. This means short scalping on lower timeframes and fading long positions on higher timeframes. I'm looking for a strong bull signal bar closing on or near its high off of the Support Zone, followed by a confirmation candle to enter a 1:4 Risk/Reward long position. Take half profits at 1:1 Risk/Reward, and swing the latter half of the position to 1:4 or until a reversal signal appears. 💡 Trade Idea 💡 Long Entry: $9.00 🟥 Stop Loss: $6.85 ✅ Take Profit #1: $11.15 ✅ Take Profit #2: $17.60 ⚖️ Risk/Reward Ratio: 1:4 🔑 Key Takeaways 🔑 1. Three pushes up into a bull channel followed by a retrace to support. 2. Wait for a breakout below the bull channel and Daily 200EMA. 3. Look for a long entry above the Support Zone 4. Target is just shy of the previous high of around $18 for the final take profit. 5. RSI at 45.00 and above the Moving Average, room to fall. 💰 Trading Tip 💰 The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades and start looking for reversals. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
Long
by TraderEngineering
1
ICP- Correction over and rise to 22 next?As you're aware, I've been very bullish on BINANCE:ICPUSDT during this bull cycle, consistently predicting growth, with the last target at the 20 zone already achieved. Following this encounter with resistance, the coin began to reverse course, entering a correction phase, and yesterday it reached support at the 15 zone. I believe the correction may be over now, and I anticipate a new upward movement, possibly reaching levels around 22.
Long
by Mihai_Iacob
6
ICP → Going to $10 or $30!? A Reversal May be Coming.ICP has printed three pushes up in a bull channel, reaching $20.90. It is currently holding its position above the Daily 30EMA. Is it time to short? How do we trade this?  🤔 We do not yet have a short signal near a key resistance zone. Three pushes up after the breakout into the bull trend is a sign to start looking for reversals, but we have yet to see a reversal pattern or signal candle on the Daily or Weekly timeframes. Bitcoin may have one more push up before it reverses, the alt coin market will likely follow that pattern. and that includes ICP. The next resistance area for ICP is around $23.00, which is at the top of the bull channel and near the resistance zone. If we get a sell signal bar and preferably, a confirmation bar closing on or near its low, a 1:1 short scalp is reasonable. 💡 Trade Idea 💡 Short Entry: $21.70 🟥 Stop Loss: $28.00 ✅ Take Profit: $15.40 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Three pushes up into a bull channel after a of the current support zone. 2. Price action is above the Daily 30EMA and in a trading range. 3. 27% gap to the top of the bull channel which is near the resistance zone. 4. Target the resistance zone for a sell signal bar around $21.00 5. RSI at 63.00 and below the Moving Average, supports short bias. 💰 Trading Tip 💰 The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades and start looking for reversals. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
Short
by TraderEngineering
Growth target for Internet Computer ICP price On the one hand, ICP's price is only trying to rebound from the "bottom" where it has been falling mercilessly for investors for 2.5 years since its listing. On the other hand, the ICPUSD price entered the first strong liquidity zone $15-22 , where for some time some sold and others bought ICP thinking that this was the "bottom" in early 2022 It is likely that the price of the Internet Computer token will be able to reach $21-23 in this race. However, it is also likely that some holders will start selling their ICPs in the range of $15-22 at the price at which they bought them two years ago and sat through a significant deposit drawdown. If you believe that the Internet Computer project is reviving and has good prospects for the future, then place a pending order to buy ICP around $6 and wait. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
9
Cryptolean Internet Computer ICP UpdateICP is trying to push into the bullish territory in the daily chart above $13.54. A bullish daily candle closure above $13.54 and a sustained price action above this level will result in a move towards the key daily resistance zone of $15.27-$15.94. An inability to sustain the price action above $13.54 will lead to (1) a dip into the daily range zone where ICP price action will be choppy and (2) a slow move to $12.06. Bears will be more active towards $10 upon a bearsih break-out of $12.06.
BINANCE:ICPUSD
by Trade-Lean
Cryptolean Chainlink $ICP Update After being unable to re-claim the key resistance zone of $15.27-$15.94 and forming a double top, ICP declined sharply to $12.06, the key daily support. A bullish reversal from $12.06 is likely, assuming we see back bullishness in Bitcoin, and will result in a move to re-test $13.54, however the price action may be slow and choppy. A bearish break-out of $12.06 will push ICP price in the bearish territory and will increase probability of a deeper correction towards the key support zone at$9.66-$10.33 and, possibly, lower to $8.06. Intraday Chart The ICPUSDT 4-Hour chart is bearish and trading very close to the key intraday support zone at $10.62-$11.43. (1) A rejection of $12.58 or (2) a bearish dip and a bullish rejection of $10.62-$11.43 will lead to a upward move towards $13.54 and, possibly, higher to $15.32. A bullish break-out of $12.58 will push price to re-test $13.54 and possibly $14.43. Support once read! Thank you.
BINANCE:ICPUSD
by Trade-Lean
5
ICP- My 22+ target should become in playAs you may recall from my previous posts, I hold a very bullish outlook on BINANCE:ICPUSDT and have elaborated on the reasons why. If the price manages to maintain itself above the $10 mark, the most probable scenario would involve a new upward movement towards the $20-22 resistance zone. Indeed, ICP reversed just below the $10 mark and began to establish higher lows in the weeks following the correction. As I mentioned in a post two days ago, CRYPTOCAP:TOTAL3 successfully broke (as anticipated) above $500B, providing confirmation for a new upward movement in altcoins. Technically speaking, in the case of ICP, we observe a clear support level at $10 and a sequence of three higher lows. Additionally, the price action in 2024 resembles that of a symmetrical triangle, a pattern that typically indicates an upward continuation. A break above the $13 zone would confirm the bullish scenario, with the target being the $20+ resistance zone. However, negation of this bullish outlook would occur with a break below the $11 zone. From a risk-to-reward perspective, such a trade could potentially offer more than a 1:4 risk-to-reward ratio.
Long
by Mihai_Iacob
2