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Icpcoin

ICP → Long at $9!? A Buy Opportunity is Waiting!ICP did not put in a 4th leg since my last analysis and instead, the short opportunity presented itself after the third push on schedule. Should we short here? Previous Analysis: How do we trade this? 🤔 Shorting at the bottom of this bull trend is not ideal. Our short opportunity was at $18 per my last analysis. Now that we're at bull channel support, we need to wait for a breakout to the downside with confirmation support has become resistance. The likely outcome of such a breakout is a 2-legged pullback from the bull channel leading us to the Support Zone. We should be looking for long positions at this point. With Bitcoin and the crypto market cooling off, we should expect more downside. This means short scalping on lower timeframes and fading long positions on higher timeframes. I'm looking for a strong bull signal bar closing on or near its high off of the Support Zone, followed by a confirmation candle to enter a 1:4 Risk/Reward long position. Take half profits at 1:1 Risk/Reward, and swing the latter half of the position to 1:4 or until a reversal signal appears. 💡 Trade Idea 💡 Long Entry: $9.00 🟥 Stop Loss: $6.85 ✅ Take Profit #1: $11.15 ✅ Take Profit #2: $17.60 ⚖️ Risk/Reward Ratio: 1:4 🔑 Key Takeaways 🔑 1. Three pushes up into a bull channel followed by a retrace to support. 2. Wait for a breakout below the bull channel and Daily 200EMA. 3. Look for a long entry above the Support Zone 4. Target is just shy of the previous high of around $18 for the final take profit. 5. RSI at 45.00 and above the Moving Average, room to fall. 💰 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 and start looking for reversals. ⚠️ 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
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/USDT - ICP Token: Poised for Explosive Growth?ICP (Internet Computer Protocol) is a blockchain-based protocol that aims to revolutionize the way we interact with the internet. ICP's token, also called ICP, is the native digital currency of the Internet Computer ecosystem. ICP is designed to power the decentralized internet by providing a secure and efficient means of executing smart contracts and other decentralized applications. It operates on a consensus mechanism called the Threshold Relay, which allows for high-speed processing of transactions with low latency. One of the key features of ICP is its ability to support smart contracts written in multiple programming languages, including Rust, Motoko, and C. This makes it easy for developers to create decentralized applications on the ICP network. ICP tokens can be used to pay for transaction fees, stake in the network, and participate in governance decisions. The total supply of ICP tokens is capped at 469 million, with around 155 million currently in circulation. Since its launch in May 2021, ICP has garnered significant attention from investors and developers alike. It has quickly become one of the most valuable cryptocurrencies in the market, with a market capitalization of over $10 billion as of May 2023. Despite its rapid growth, ICP is still a relatively new technology that faces many challenges and uncertainties. As with any emerging technology, it is important for investors and users to conduct thorough research and understand the risks associated with investing in ICP. In conclusion, ICP and its native token have the potential to transform the way we interact with the internet and bring about a new era of decentralized applications. Its innovative technology and strong developer community make it a promising project to watch in the coming years.
Long
by SophiaAnderson
3
ICP investments zones for 2023-2024BINANCE:ICPUSDT I think around June/July 2022 we possible to see the bottom on ICP around 9-5$ this range price Usually coins which is have a great investors and big fonds on the launch they will come back after a year or 500 days to pump and manipulate price this coin again. In almost total disbelief zones if Bitcoin drop to 30 or 25 We can see $ICP around 6-5 dollars. Targets is 50% fib 100% fib and 1.618 level by FIB so its around 5000% gains. Just for long term. Follow my ideas on TradingView and other social media
by Crypto4light
The bulls abandoned the area below; Myth or certainty?Internet Computer Coin got rid of the downward plug and has recovered about 45% of its cost since early March. ICP Coin price is moving towards the short-term resistance level at $24, wherein a higher-high, higher-low formation is shining. In the intraday trading session, the bulls are struggling to propel the price above the 100-EMA resistance. The Internet Computer coin's daily price chart is watching above the 20 and 50-day moving averages and bulls are coming to reclaim the coin above the 100-EMA line (standing as a longer-term resistance). The Relative Strength Index (RSI) saw a sharp rally since mid-March, with the RSI approaching overvalued territory on the daily time frame. RSI appears at current level (70-points) after 7 months; Buyers can celebrate this occasion with high price stability. The ADX indicator is at 26-level at the writing period, which suggests strength in bullish momentum for the Internet Computer coin. The overall price action of Internet Computer Coin is bullish and key technical indicators are supporting the bulls. For this week, the 100-EMA is likely to be a resistance level the bulls need to retest the price above it. Support level - $15 and $10 Resistance level - $27 and $35
Long
by TheCoinRepublic
2 Scenario for ICPICP is a victim of VC's. I have no idea why the the team messed up on tokenomics so much. I believe ICP drawing a Falling Wedge on Log Scale. It touched the lower band of that falling wedge. Since it is a long run investment for me, I bought some ICP on 19$. There is a FED meeting on 26 and I believe Market will decide its direction after that meeting. In any case, Lets make our guesses. Scenerio 1: ICP will increase to the 30$ range and break that pattern to upside and more increase can be expected. Scenerio 2: ICP will increase to the 30$ range and fall back to the lower band again... I hope not, but I am still saving some money for this case. This is my trial. Not a financial adviice.
by Dantefe