ICPUSD trade ideas
Dfinity (ICP) • Above resistance and Trending Dfinity just broke resistance range. Volumes also look good for possible uptrend.
This coin got destroyed last months but it is now looking good for possible 330 levels (50% of whole correction from ATH)
Marketcap: $12B (#17)
Open interest: $6.97M
Funding Rates: Flat
ICP - Could See $154 Before BTC Is DoneICP looks set to break out somewhere in this area.
Since the bottom, price has completed a 1:1 ABC and now looks to be in a continuation pattern.
Notice the mini bull flag breakouts within the horizontal channel. Each one builds pressure. As Wyckoff described - they are "the cause." When price breaks out that will be "the effect" of pressure built and may well be explosive.
There are other possible ratios but if price breaks above the containment channel then I think this will most likely be a 1:1 ABC up to $154 area.
Not advice.
Icp - bearmarket ahead? If ICP doesn't brake above the ristance, I see a bearmarket till next year!
My targets are then 10 dollars!
Everything depents on the big investors, if they are not willing to buy soon. Bearmarket it is.
Maybe they need to wait after court untill things are cleared out? And show some more usecases before big investors are willing to buy?
Time will prove, but I still don't see enough buying power. More rejections and dumping then real support to be honest.
Plus we are dealing with a double top also..
Brake it ore make it. ICP haves a few mountains to climb anyway...
ICP Advance Continuation pt.2 ICP so far has netted me a 49.07% return in 23 days. It's been an excellent swing so far. This was from a 23.47 preliminary entry on August 6.
Prognosis: ICP is gearing up for what looks like a new Fibonacci climb after another successful reaccumulation phase. Look for a possible retest of TR-M (67.25) and then subsequent advancement to range resistance with volume confirmation if demands continues to flow.
*Fulltime Wyckoffian VSA crypto swing trader since 2017. I regularly seek out the most lucrative swings on all the major exchanges.
All my charts are clean, straightforward, and easy to follow. No junk, no needless indicators, just solid volume spread analysis ( VSA ) and 'take-the-money-and-run' Fibonacci target zones.
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** Not financial advice. Trade at your own risk.