ICPUSDT trade ideas
Internet Computer (ICP): Weak Point / Possible Sharp MovementInternet computer coin looking pretty bearish after seeing multiple rejections from pushes that bulls were trying to pull off.
Now all those zigzag moves that those rejections formed gave us a good solid zone of liquidity (which is marked as a red triangle zone).
We are looking for this zone there to be broken, which would initiate a possible further downward movement so keep an eye on the current zone!
Swallow Team
ICP/USDT on the Edge: Bearish Momentum or Bullish Breakthrough?The ICP has been in a continuous downtrend from March 2024, as indicated by the declining trendline establishing the lower highs from April onwards. This trendline has proven to be a significant barrier, as the price has frequently failed to break above it. The current price is about $7.358, below significant resistance levels at $8.549 and near an important support zone (Pink) at $6.403 - $6.846. The extended downward trend indicates that the market is failing to gain positive momentum, as evidenced by lower highs and the failure to break the descending trendline.
Key resistance levels include resistance zone (Green) at $10.952 - $10.569 and $8.549, both of which have previously acted as significant rejection points. The price has struggled to rise above these levels, showing that the bears remain in charge. The resistance zone (Blue) at $15.148 - $16.265 is especially important since it represents a strong barrier that has constantly restricted upward momentum. This area might need strong buying strength to break out, making it a key level for any possible bullish shift.
On the downside, the support zone (Pink) at $6.403 - $6.846 is currently acting as an important zone. This level has recently protected the price from additional drops, making it an important line of defense for the bulls. However, if the price falls below this support, it may indicate further downside possibilities, with the next support levels being $5.813 and, further down, support zone (Yellow) at $4.658 - $4.499. These levels could serve as potential floors if the selling pressure continues, but a drop below these levels might indicate a longer-term negative trend.
The ICP price remains bearish, with the descending trendline continuing to restrict any significant price increases. The market is currently at an intersection with prices near critical support and resistance levels. Traders should keep a careful eye on these levels, as a break above the descending trendline might signal the start of a bullish reversal, while a break below the support zone (Green) could result in more losses. Overall condition is careful, with the bears keeping control unless there is a substantial shift in momentum.
ICP USDT 4H🔍 ICP/USDT Analysis: 4-Hour Timeframe 📉
The ICP/USDT chart on a 4-hour timeframe highlights significant upcoming times where price movements may present trading opportunities. It’s essential to analyze these signals in conjunction with higher timeframes for a comprehensive market view.
• BUY DATE - September 1, 2024, 9:00 AM - Green Line: This time indicates a potential local low, offering favorable conditions for accumulating ICP or entering long positions.
• SELL DATE - September 7, 2024, 1:00 PM - Red Line: This time marks a potential local peak, signaling a possible moment to reduce exposure or take profits.
• BUY DATE - September 14, 2024, 1:00 PM - Green Line: Another potential local low, suggesting an opportunity to accumulate more or enter new positions.
• SELL DATE - September 19, 2024, 1:00 PM - Red Line: Additional potential local peak, where reducing positions could be considered.
When working with this 4-hour timeframe, remember to evaluate these movements within the context of the broader market trend, considering higher timeframes for a more global perspective.
ICP SIGNAL AND UPDATEwe will be going short on BYBIT:ICPUSDT.P my TP and SL are on the chart,
you can ask quastions, about the update
follow for more
Potential double bottom on ICP on the 1WHere's an idea about the Internet Computer Protocol. It looks like we are forming a double bottom at the orange market support level. We are still trading below the EMA50 on the 1W which could be the biggest short term resistance for a breakout. This is a long term idea that might be worth keeping an eye on.
Short trade
Wed 128th Aug 24
4.00 pm
NY Session PM
Sellside trade
Entry 7.772
Profit level 7.165 (7.81%)
Stop level 7.869 (1.25%)
RR 6.26
Long trade
Date: Thursday, 22nd August 2024
Time: 4:00 PM during the London to New York Session
Entry Level: 8.024
Profit Level: 9.954 (a 24.02%)
Stop Level: 7.773 (a 3.22%)
Risk-Reward Ratio (RR): 7.69
ICP Downtrend PersistsThe downtrend is still in progress for black wave C, and I expect a new lower low below 5.811 for blue 5.
Gray resistance at 10.7 is very solid, and we'd expect the downtrend to finish with RSI divergence, which hasn't happened yet.
#ICP/USDT#ICP
The price is moving in a descending channel on the 1-hour frame and we are about to break it
We have a bounce from a major support area in green at 6.75
We have an uptrend RSI that has been broken upwards which supports the upside
We have a trend to stabilize above the 100 moving average which supports the upside
Entry price 7.00
First target 7.41
Second target 8.02
Third target 8.66
ICP SHOWING STRENGTHI found this using the Trading Alpha screener, which I cannot recommend enough. As you can see, this chart showed bullish divergence at the bottom, has yellow squeeze shading being followed by a small and then large grey arrow. These are clear long signals using this indicator.
There is a large looming descending blue resistance that I am watching, but this generally looks like it is bottoming and just getting started moving.
Remember - everything changes quickly for alts if Bitcoin move. Keep your risk managed.
ICP 4 Hour ChartNow coming to the lower timeframe:
The price is rising on a bullish trendline and it is expected to rise to $8, considering the support of $6.9.
$ICP maximum target for 2025🚀 ICP 🚀
In our previous trade, we achieved a remarkable +640% gain!📈
Currently, #ICP is showing promising potential again
Consider buying in the dip zone of $4.3 - $6.1
& #HODL for substantial gains
🎯 Wave 3 Target: $50 - $57
🎯 Wave 5 Target: $135 - $176
#NFA #DYOR
Triangle and cup handle triangle with broken trendline (red), but we can have now cup handle what will break triangle top, hit red line and break that too, lets go above 12
Final move soon we are near final move. Our bottom is 9, top is 9.50. IF it will go under 9, there is chance strong trendline 8 will hold, but under 8 will be very bad. On 9 (or possible 8) lets bounce back to 11-12, lets go ... I am still waiting for 50-100
ICP Analysis
So, here is the overview:
Current Price: $7.2
Support Zone: $6.6-$5.88
Take Profit:
TP1(Conservative): $8
TP2 (Mid): $9.9
TP3 (Optimistic): $12.2
ICP: Make or Break?On the daily chart, ICP broke above the bearish trend line and now sitting at the support zone. The price has been making lower highs and it will be considered bullish once it tops the previous high of $12.4.
For now, the support zone $6.6-$5.88 is critical to hold the price up.
Long trade Fri 16th Aug 24
1.00 pm
Buyside trade
NY Session
Entry 6.980
Profit level 7.397 (5.97%)
Stop level 6.814 (2.38%)
RR 2.51
Long trade
Entry Level: 7.130
Take Profit (TP) Level: 7.451 (4.50% profit from the entry)
Stop Loss (SL) Level: 7.016 (1.60% loss from the entry)
Risk-Reward Ratio (RR): 2.82
ICP USDT🔍 ICP/USDT Analysis: Key Dates for Strategic Moves 📉
The ICP/USDT chart highlights important upcoming dates where price movements may present trading opportunities:
August 30, 2024, October 17, 2024, December 17, 2024 - Red Lines: These dates mark potential local peaks. Traders should consider these as moments to take profits or reduce exposure, as the price might face resistance or a downturn.
September 22, 2024, November 20, 2024 - Green Lines: These dates indicate potential local lows, offering favorable conditions for accumulating ICP or entering long positions.
By aligning your strategy with these key dates, you can better position yourself to capture gains and manage risk effectively in the ICP market.
#ICP #CryptoTrading #MarketAnalysis #Altcoins #Cryptocurrency #ICPUSDT
$7.47 and $7.7 ResistancesThe ICP's price is within the $6.88 to $7.03 range. This range is considered a balance zone where the price may experience fluctuations. A closer examination of this area can reveal the strength or weakness of buyers and sellers.
Key Levels:
$6.88 to $7.03 Range:
This range acts as a critical area for observing price reactions. Maintaining this level could indicate a return of buyer strength and the potential for a move towards higher targets.
Price Targets of $7.47 and $7.7:
If the price can break above the $7.03 level, it may move towards targets of $7.47 and $7.7. These levels act as potential resistances, and breaking through them could signal a strengthening of the bullish trend.
$6.8 Support Level:
If the price fails to hold the current range, the $6.8 level is considered an important support that could prevent further price declines.
