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Icpusdtsignal

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
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/USDT Shows the price will back test before back to upward!💎 Paradisers, the recent market dynamics surrounding #ICP have indeed been noteworthy. 💎 Previously, when ICP hit the support, it bounced back, and now it appears that the price will retest the support area. However, if ICP fails to bounce, the next likely stop is the Bullish OB area. 💎 A potential scenario could see a strong bounce if ICP reaches the Bullish OB area. If this occurs, there's a possibility that the price will resume its upward movement and head towards the strong resistance. This aligns with the overall bullish trend, characterized by consistent higher highs. 💎 On the other hand, if ICP breaks below the Bullish OB, it may signal a shift to bearish sentiment, resulting in continued downward movement. MyCryptoParadise iFeel the success🌴
by MyCryptoParadise
ICP- I expect a new leg upIn my previous ICP post, I presented a potential trading plan for this coin. I stated that a break above 14 would indicate that the correction was over. Conversely, if we experienced a break of the symmetrical triangle to the downside, ICP/USDT could drop to 10, presenting a great buying opportunity. The coin followed the latter scenario. As observed from the chart, it reversed precisely from the indicated support zone and reached a local high at 13. Now, ICP/USDT is undergoing a correction of this initial upward movement, potentially providing a new opportunity to enter long positions. In conclusion, my preference is to buy dips around 11.50-11.70, with a target in the recent high zone around 16 and negation occurring under 10. Looking at the longer term, as explained in my previous posts, my target is the 20-22 zone.
Long
by Mihai_Iacob
ICP → Internet Computer Running Out of Gas with Ascending Wedge?ICP gave us another push up after we broke the Support Zone and established support. Now we see ICP coming down to test the Push #2 high of $11.80. The price is consolidating to the upside in an ascending wedge pattern, should we short? How do we trade this? 🤔 It is not time to short because we're still in the ascending wedge pattern and have not failed to make new highs and new lows. The earliest we should be entering a trade is when the price attempts to make a new high, fails and has broken out of the wedge. We're looking for a sell signal (bear bar closing on or near its low with a wick top) followed by a confirmation bar (strong bear bar closing on or near its low). The likely price area to enter the short will be around $13.00, but we're still a ways from the target, so we'll have to watch the candles print to size up our entry. A higher probability of profit trade is a 1:1 short scalp to the Support Zone, making the assumption that this will play out as a pullback rather than a bear run. We need to keep an eye on Bitcoin as it nears $45,000 again. I suspect it will fail to break the neckline but until we confirm that, we can trade as if it won't. 💡 Trade Idea 💡 Short Entry: $13.00 🟥 Stop Loss: $17.00 ✅ Take Profit: $8.98 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Three Pushes Up from Ascending Triangle Breakout 2. Ascending Wedge Forming 3. Look for Double Top Wedge Breakout to Short 4. Watch Bitcoins Possible Reversal from $45,800, Impact on Alt Coin Market. 5. High RSI at 63.00 below Moving Average, Supports Pullback to Support Zone. 💰 Trading Tip 💰 Ascending Wedges signal an increased probability of a bear breakout. Combined with three pushes up in a bull trend and strong sell bars (candles with large wicks on their tops), creates conditions where a counter-trend trade is reasonable. ⚠️ 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 comment if you found this analysis useful!
Short
by TraderEngineering
12
ICP - Measured Move Complete! Pullback to $8.23 then $4.80!?ICP executed a beautiful measured move in three legs; a breakout from the first to the second leg with an ascending triangle(per my last analysis), broke resistance, and landed on the measured move target. We're now witnessing a pullback but is that where the drop will end? How do we trade this? 🤔 We need to wait and see what happens to the price after it interacts with what was previous resistance, around the $8.23 price area. If we get strong support it's reasonable to consider a long scalp. I wouldn't plan a swing trade on this timeframe since the price action has been running hot; three pushes up with a 320% increase in price from bottom to top, RSI went up to 91 and is still at 68.00, now below the moving average, etc. These data do not support longing, at least on this timeframe. We also do not want to jump into a short right away, the strong sell signal and confirmation candles need to close before we can make such a move. Look for a break below the Resistance Zone and a re-test of the level that fails. A strong bear bar closing on its low at the $7.95 area is enough justification to enter a short. It's reasonable to take 1:1 Risk/Reward level profits around $7.20 and swing the rest to 1:3 or until you see a buy signal. Until we see the bear confirmation, we ought to remain on the sidelines or zoom into the 5m or 15m timeframes. 💡 Trade Ideas 💡 Short Entry: $7.95 🟥 Stop Loss: $8.65 ✅ Take Profit: $6.55 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Breakout of Ascending Triangle, Measured Move Up! 2. Measured Move Target Hit, Pullback to Resistance Zone. 3. Watch for Support at Resistance Level $8.23. 4. RSI at 68.00 below Moving Average, Supports Pullback to Resistance Zone. 5. Watch Bitcoin near the $46,000 level, looking for a Trend Change. 💰 Trading Tip 💰 Bear flags in the proper context, provide over a 60% probability that a trend will continue. This provides justification to enter a short trade. ⚠️ 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 comment if you found this analysis useful!
Short
by TraderEngineering
6
ICP → Ascending Triangle Breakout! Take Advantage of This Long.Internet Computer Token is knocking on the gates of resistance in a bullish ascending triangle pattern! It seems inevitable that the price will reach higher highs, but do we have enough data to enter a long now? How do we trade this? We have these key bullish data points; the macro trend, ascending triangle pattern, RSI above the Moving Average, and Bitcoin as a leading indicator reaching new highs. It may seem like longing now is a great idea, but it's risky for one very important reason; we're at resistance. There isn't enough room for reward against our risk, which is at least just below the 30EMA ribbon. Confirmation of a breakout is necessary in this analysis. Once the price breaks out and tests prior resistance as support, it's reasonable to long. Place your protective stop just below the top of the triangle or EMA ribbons and your take profit just before the next resistance zone. Since we're at resistance, be prepared for the market to reverse and trade accordingly! Trade Idea Long Entry : $5.20 Stop Loss: $4.24 Take Profit: $6.60 Risk/Reward Ratio: 1:2.5 Key Takeaways 1. Ascending Triangle, Bias to Long! 2. Macro Trend is Bullish 3. Wait for Resistance to Break before longing. 4. RSI at 60.00 and above Moving Average, Supports Long. 5. After breaking Resistance, Long after test of Support. You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
Long
by TraderEngineering
2
ICP Token Can't Break Resistance!? This Analysis Brings Clarity.ICP is mirroring Bitcoin and Ethereum in their difficulty to break their Weekly resistance zones. This is the 4th attempt since November 12th that the price tried to clear and hold above $4.80, will it hold this time? How do we trade this? ICP is in a bull channel, which means our bias should be toward the upside. That does not mean it's the *only* data point to consider, we're also at resistance without a bear signal bar, so don't dive into a short just yet! We also have the 200EMA below us at $4.20, which is likely to act as support given that the overall trend is bullish. Given these data, it's reasonable to look for a bear signal bar closing on or near its low to get short, then take some or all profits just above the 200EMA. Wait for more price action at that level to see if we get another leg up, or hold the rest of that short position to lower prices. Key Points 1. Bull Channel, Bias to Long. 2. 4th Attempt to break Resistance Happening Now. 3. If the 4th Rejection Happens, a Short is Reasonable. 4. Watch 200EMA for Support 5. RSI at 63.00, Bias to Fall. You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
Short
by TraderEngineering
2
$ICP 🐻'sh Continuation On the 1Hr TF i've identified a bearish continuation pattern that $ICP has formed beautifully. It has already flown to the 50% mark and pulled back. Though I want to see more bullish engulfing patterns as PA leaves the demand zone and heads for supply. In all, expecting PA to head towards the $5.89 mark to then continue the trend and trade below $5.21. You can trade either direction, but since you know where it's going.. you can play offense and setup a short at the above level mentioned, just make sure you SL is tight & GL!
Short
by Nick.TkgProfits
ICPUSDT Elliott Waves AnalysisHello 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. Entry: market and lower Targets: 7.5 - 9.5 - (~11.5) after first target reached move ur stop to breakeven Stop: under 3.5(depending of ur risk). ALWAYS follow ur RM . RR: 1 to 6 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. Dont Forget, always make your own research before to trade my ideas! Open to any questions and suggestions
Long
by trytofeelpositive
10