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ICPUSDT trade ideas

ICP- Huge falling wedge for 100% riseBINANCE:ICPUSDT has been trading in an immense falling wedge for a year and a half now. At this moment the coin is exactly in the pattern's resistance and a break could fuel a strong rise. The recent rise, although not so aggressive as in other coins could be interpreted as an accumulation in a rising channel which also adds to my bullish outlook. In conclusion, I'm bullish ICPUSDT as long as it stays above 4 USD and, considering a target around 10usd, a 1:5 risk: reward could be achieved.
Long
by Mihai_Iacob
4
♥ ♥ Double Bottom Patterns ♥ ♥A double bottom pattern is a classical pattern that indicates a change in trend and a shift in momentum from bearish to bullish. It is composed of two consecutive troughs that bottom out at roughly the same price level. This level acts as a support for the price. The double bottom formation is a bullish reversal pattern that is created after a prolonged downtrend. In order to identify this pattern, you will need to look for the following: 1. Two distinct troughs that bottom out at roughly the same price level. 2. A moderate rally in between the two troughs, creating a resistance. 3. A break above the resistance after the 2nd trough is formed. If you see a chart with these characteristics, you have recognized a double bottom pattern. This pattern is regarded as a very reliable reversal signal, and traders frequently use it to enter long positions.
Long
by Bit-Xploid
20
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
Internet Computer Price Surges By 40% Today! Will $ICP Hit $10?The altcoins have gained significant momentum in recent days as many tokens are successfully outperforming the top cryptocurrencies of the industry. Further, top altcoins such as BONK and Internet Computer (ICP) price have added massive value to their portfolio during the past month. Further, the ICP token has added over 38% within the past 24 hours, making it the top gainer of the day in the crypto industry. The Internet Computer price traded in a closed range between $4.060 and $4.750 for almost a month, indicating a disinterest among the investors in this token. December started positively as the ICP token price after multiple attempts, successfully broke out of the range, and displayed micro-price movements. The price gained approximately 20% in two weeks before it faced rejection at $5.698. After multiple attempts, the bulls regained momentum, but the rally was short-lived as the price faced rejection at $6.659. The price witnessed significant bullish sentiment as it added over 36% in value during the early trading hours today. Positively the Cross EMA 50-Day acts as a dynamic support for the ICP price, suggesting a high possibility of a bullish price action soon. Will ICP Price Rise Again? The Moving Average Convergence Divergence (MACD) displays a significant rise in the histogram, indicating an increased buying pressure for the coin. Moreover, the averages show a sharp rise, suggesting the price will continue gaining value this week. If the bulls continue to gain momentum, the price will test its resistance level of $9.068 soon. Maintaining the price at that level will set the stage for the ICP price to attempt to test its upper resistance level of $10 during the coming week. Conversely, if a trend reversal occurs, the price will lose momentum and prepare to test its support level of $7.390. Moreover, if the bears continue to overpower the bulls, it will plunge further and fall to test its lower support level of $6.659 in the days ahead.
Long
by DEXWireNews
1