ICPUSD trade ideas
ICP: I'm Bullish!Notice how there are two previous events where ICP has dipped down and then come up for a nice surge. Trends tend to happen oftentimes in thirds and so its realistic to assume that, if ICP makes this double bottom, it will make a surge upwards. It may not even need the double bottom if you want to be excitedly optimistic. The way that the RSI and ADX are positioned show that it's cleared for a bull run if it chooses. Thanks for reading!
ICPUSDT ewt analysistwo possible scenarios from here, buy indications are starting to flash though, so a decision needs to be made today - we hit the .50 recently for what looked like an a-b-c into the 2.
normally i'd love for an asset to get down into the golden zone for a wave 3 swing, so i am a bit weary getting in right now.
would love to hear anyone else's thoughts \ opinions on this.
thanks in advance.
ICP Respected Upper Boundary! SHORTICP once again hit the upper boundary, and while Matic, Chainlink, Bitcoin, Ethereum, Fantom, Sushiswap, YFI, ADA, Solana, etc, all are up from 3-7%, ICP hit its upper boundary of its falling channel and is already down 2%, I would ride this down on a great short opportunity.
ICP Short Success + New AnalysisSo far ICP after its 96% free fall began trading in a downward channel, which its respected the upside (tested twice on dead cat bounces by scalpers) and went directly to the bottom of the channel (56% loss). The buyers are not strong support as they’re buying to scalp due to the asset falling 96%, and aren’t long term holders.
The last time the upper boundary was tested, it was immediately slammed to the bottom of the channel (50+ % loss). The short I recommended taking at $52, I would take profit at $25.
I do believe Bitcoin will retest $40,000 and go into a renewed bull rally, as it’s way oversold, but I do not see a sustained ICP rally, nor it moving above $60. If not already in a short, I would wait for the Bitcoin daily close, and if ICP is up more than 10%, open a short position and take profit at $25.
More exchanges are supporting shorting ICP, I currently use FTX perpetual, but I believe Huobi also have opened the ability to short ICP if you already have an account there.
Dead Cat Bounce Completed - New Short Opportunity!ICP clearly has been trading in a downward channel on the daily since its 96% free fall, a dead cat bounce occurred to test the upper boundary of the channel, which has been stopped out. Scalpers are clearly tiring out.
With a lack of tech, anti-developer semi closed code base, horrible market sentiment, as well as the team selling 90m tokens and VC’s owning 26% of the supply at 2 cents, I see the free fall to commence with a second test of the upper channel happening when Bitcoin moves above the $40,000 range. VC’s and the team have stopped selling which could prove for some relief in the short term.
Not many prospects, but a short here could be a pretty big win.
ICP - $108-$125 area next?ICP has done well the last couple of days. move up with strong volume and RSI just getting above 30 in the last couple days should be a good sign for more upwards momentum.
we break $58-$66 resistance area, should move up to next resistance area of $108-$125... something to keep an eye on.
not trading advice
tg
ICP USD ICP has been completely obliterated. ICP has a super cool tech. Just like back in days, when UNI was crashing until all of sudden it took market by a storm, same will happen to ICP. I have no doubts ICP will be a major player. Expecting ICP to recover with a huge bullish green candle. There is a bullish divergence on 4 hour. BEST of luck. DYOR.