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ICP

Wyckoff Accumulation SchematicWhat Happens After Wyckoff Accumulation? Once the Wyckoff accumulation is over, the price will move sharply higher as demand will exceed support. Buyers will experience an impulsive bullish pressure in which most money is generated from a buying position. In the accumulation schematic, the trading range represents the space between the SC low and the AR high. While secondary test usually happens when the market drops near the selling climax region to retest and confirm if the intense selling pressure is prolonged or ended. Generally, during the accumulation phase, the price remains sidelined for range-bound trading after a strong downtrend. Larger players build positions and eliminate retail traders from the market by creating hopes of a further drop in the price. Once smaller fishes are confident about the price drop, bigger players aim to move higher after filling their positions. According to Wyckoff, there are six stages in the accumulation phase. These stages include: ● PS — Preliminary Support: The preliminary support appears after a long bearish trend. Traders may experience a high volume and spread widening. It is the first indication that the selling pressure will end, and buyers may control the price. ● SC — Selling Climax: In the second step, the price begins to sell off, violating PS. This is a panic selling phase. After a while, the price may reverse after exhaustion, when the spread might extend to an extreme level. In the end, the price may close far from the low with a long-wicked candle. ● AR — The Automatic Rally: This part can be disastrous for sellers. After the violent selling pressure of the SC, the price reverses and recovers all the movement shown toward the sellers’ direction. This phase indicates that short sellers are covering their positions. The high of this movement determines the high of the range, which is a significant barrier for most buyers. ● ST — The Secondary Test: After the AR, the price will go lower again but controlled. In this movement, sellers’ volumes should be higher, and there may be multiple secondaries in the price. ● ST — The Spring: In this phase, the price will perform a hard test of recent lows that will mislead traders. After watching the spring, average traders will consider the market trend bearish and start selling trades. However, the price should show a swing failure pattern and move up after a shakeout. This phase is prevalent with altcoins that have bottomed out for a considerable time. ● AS — Accumulation Schematic: The last stage of the accumulation cycle. The price should break out from the range with an impulsive bullish pressure and confirm the upcoming bullish trend.
Long
by Crypt0_Ninja
5
ICP - Potential Bullish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow. ICP is sitting around a strong round number 20.0 so we will be looking for buy setups. on DAILY: ICP is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, ICP would be overall bearish can still trade lower till the lower. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ICPUSDLong
by TheSignalyst
15
ICPUSD buying opportunityDear traders In our opinion the current situation in ICPUSD chart is a typical fakeout. ICP broke below the crytical support and created new low. Taking into consideration the current market conditions (extended fear and potential bullish breakout for BTC) , we expect ICPUSD to come back into the range soon. 27 - 80 usd is an accumulation range. Once we break it, ICP is going to fly. However, we expect longer accumulation (6-8 months) . Multiple profit taking levels for those who wants to trade inside the accumulation range. Hodlers shouldn´t be worried. Buy , hold and be patient. Patience is a key. ICP dumped hard like every new coin. Remember CRV listing? Where is CRV now? Don´t sleep on ICP This coin may be the best bet for 2022. Strong fundamentals. Moreover, web3 sector is going to have its hype in 2022 No financial advice
COINBASE:ICPUSDLong
by vf_investment
ICP going for a dip?The observation is simple. The daily RSI and Money Flow indicator are showing signs of bearish continuation divergence. This signifies that bulls are loosing momentum and a bear takeover may be just around the corner. Every time the RSI and MFI reached the upper levels we saw a dip. The first time we saw a 25% dip the second time was this November and we saw a 65% dip. I was hoping for a more robust bounce (at least to the upper trend line of the falling wedge but it seems like we could be looking at retesting the $20's sooner rather than later.
COINBASE:ICPUSDShort
by CryptoNCoffee
2
ICP - Reversal Wedge!Some more price action has appeared which has given us more of an indication as to what may happen next. We are seeing a descending wedge, which is often a reversal pattern. Looking for ICP to make one more move down before we load up for buys! Short Term Trade Idea (SHORT): - Watch for a break of the ascending trendline on lower timeframe - Enter with stops above the recent correction highs - Target the 10-12 area Swing Trade Idea (LONG): - Watch for strong bullish pressure at the -0.618 level (10-12) - Enter with stops below that level - Safe entry after the break of the descending wedge - Target the recent highs as first target and hold the rest! Let us know what you think. Goodluck!
by Altsignals
10