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ICPUSDT trade ideas

ICPUSDT.4HBased on the provided market data, the Internet Computer (ICP) cryptocurrency is currently trading at a price of $13.200 against USDT. The relative strength index (RSI), which indicates whether a cryptocurrency is overbought or oversold, is at 60.68 for 4-hour trading, 60.88 for 1-day trading, and 72.49 for 7-day trading. These values suggest that ICP is neither overbought nor oversold, but it is closer to being overbought on the 7-day chart. The Moving Average Convergence Divergence (MACD), a trend-following momentum indicator, is positive across the 4-hour, 1-day, and 7-day charts. This is a bullish signal that suggests the momentum is with the buyers. The Bollinger Bands (BB), which measure volatility and provide relative definitions of high and low prices, are at 13.795 for 4-hour trading, 13.798 for 1-day trading, and 14.875 for 7-day trading. The current price is below the middle band in all three cases, indicating that ICP is trading in the lower range of its price. The support levels are at 12.651, 11.190, and 10.451 for 4-hour trading, 11.889, 10.364, and 9.602 for 1-day trading, and 11.228, 9.538, and 8.552 for 7-day trading. These are the levels at which the price is likely to bounce back if it falls. The resistance levels are at 13.992, 14.366, and 15.510 for 4-hour trading, 14.430, 15.500, and 16.460 for 1-day trading, and 14.277, 16.550, and 20.920 for 7-day trading. These are the levels that the price must break through to continue its upward movement. In my opinion, ICP is showing bullish signals with its positive MACD and RSI that is leaning towards overbought. However, it's trading in the lower range of its price, and there are resistance levels to overcome for further upward movement. Therefore, investors should watch these indicators and levels closely and consider their risk tolerance and investment goals before making a decision.
by MarsSignals
ICP/USDT Nearing a Critical Supply Zone Boom or Not?๐Ÿš€ICP๐Ÿ’Ž Paradisers, gear up as we spot a thrilling chance with #ICPUSDT, which is on the verge of challenging a significant supply zone. ๐Ÿ’Ž Observing #InternetComputer trajectory, it's been painting the chart with strong green candles, aiming to shatter the supply zone at $14.049. Here's a crucial point: if the price honors the supply at $14.09, we might see a retreat to the lower demand at $12.013. However, should CRYPTOCAP:ICP disregard this supply ceiling at $14.049, an ascent could be on the cards. ๐Ÿ’Ž Wondering about the savvy trader's playbook? Vigilance is key, especially with potential price action traps lurking. Remember there's also a chance for a bullish bounce from the demand zone, should our initial read not pan out, with a dip below $12.013 hinting at further declines.
Long
by MyCryptoParadise_Simon
ICP inefficiency about to be fillICP is the trade that caught our attention today... After a long consolidation below we see good movement to the upside but unfortunately ICP facing huge resistance on 4hrs and 1hr TF.... When ICP pumped previously we cool see a CHoCH in 4hrs and 1hr TF to the downside with an inefficiency left behind...I'm expecting ICP to fill the inefficiency today and mitigate the unmitigated bearish OB on 1hr TF.... Be patient for the entry and manage your risk Follow for more market update and trade setup
Short
by MICHELXM
ICP/USDT | InternetComputer |1D ๐Ÿ‘€1. The tool has performed admirably as expected, but this doesn't necessarily indicate the beginning of a bull rally. 2. For now, I remain bearish for the first quarter, but come April, I will fully transition to the buyer's side and hold all instruments in the portfolio. 3. The next week will be crucial, informative, and volatile. I am exercising patience and sticking to the plan. - Not financial advice, trade with caution. โœ… Stay updated on market news and developments that may influence the price of InternetComputer. Positive or negative news can significantly impact the cryptocurrency's value. โœ… Exercise patience and discipline when executing your trading plan. Avoid making impulsive decisions driven by emotions, and adhere to your strategy even during periods of market volatility. โœ… Remember that trading always involves risk, and there are no guarantees of profit. Conduct thorough research, analyze market conditions, and be prepared for various scenarios. Trade only with funds you can afford to lose and avoid excessive risk-taking. #Crypto #InternetComputer #Investing #ICP
by Nyskohuz
1
Double Bottom Breakout and Symmetrical Triangle = PUMPInternet Computer (ICP) has undergone an extended period of trading within a horizontal accumulation pattern, accompanied by the formation of a significant double bottom pattern with a liquidity grab. Following the successful execution of the double bottom pattern, ICP broke out from the accumulation range, and it is currently trading within a symmetrical triangle. The anticipation is for a potential upward breakout from the symmetrical triangle pattern. ๐Ÿ”„ Horizontal Accumulation and Double Bottom Formation: ICP's extended consolidation within the horizontal accumulation pattern provided the groundwork for the formation of a double bottom pattern. The pattern is characterized by a strategic liquidity grab, indicating a shift in market dynamics and potential accumulation of positions. ๐Ÿš€ Double Bottom Breakout Impact: The successful breakout from the double bottom pattern signified a reversal of the prevailing bearish sentiment. This breakout is indicative of increased buying interest, potentially paving the way for a sustained upward move. ๐Ÿ” Symmetrical Triangle Formation: ICP is currently trading within a symmetrical triangle, marked by converging trendlines that create a triangular pattern. The symmetrical triangle often represents a period of consolidation and indecision in the market, with the potential for a significant breakout. ๐Ÿ’ก Anticipating Upward Breakout: The symmetrical triangle pattern suggests that ICP is coiling within a tightening range. An upward breakout from the symmetrical triangle could signal a continuation of the bullish momentum initiated by the double bottom breakout. Traders and investors may anticipate potential higher price levels if the symmetrical triangle is breached to the upside. ๐Ÿ”ฎ Future Outlook: The technical analysis indicates a favorable setup for ICP, with the successful execution of the double bottom pattern and the current consolidation within a symmetrical triangle. Traders should closely monitor the price action for confirmation of an upward breakout from the triangle pattern. The cryptocurrency market's dynamic nature emphasizes the importance of adaptability and risk management in trading decisions. If the symmetrical triangle is decisively breached to the upside, it may open the door for further upward movement in ICP.
by AlexWhale
ICP- I expect a new leg upIn my previous ICP post, I presented a potential trading plan for this coin. I stated that a break above 14 would indicate that the correction was over. Conversely, if we experienced a break of the symmetrical triangle to the downside, ICP/USDT could drop to 10, presenting a great buying opportunity. The coin followed the latter scenario. As observed from the chart, it reversed precisely from the indicated support zone and reached a local high at 13. Now, ICP/USDT is undergoing a correction of this initial upward movement, potentially providing a new opportunity to enter long positions. In conclusion, my preference is to buy dips around 11.50-11.70, with a target in the recent high zone around 16 and negation occurring under 10. Looking at the longer term, as explained in my previous posts, my target is the 20-22 zone.
Long
by Mihai_Iacob
ICP sell/short setupA large degree triangle is finished. A pattern of the same degree as this triangle is expected to form. That means we will see correction both in time and price. We are looking for sell/short transactions in the SUPPLY range. The targets are marked on the chart. Closing a daily candle above the red range will violate the analysis For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
Short
by behdark
4
ICP/USDT Breakout the Bullish Pennant pattern. Bullish Momentum?๐Ÿ’Ž ICP has experienced significant developments in the market. Currently, ICP has broken out of the Bullish pennant pattern, which is a bullish continuation pattern. ๐Ÿ’Ž Additionally, the chart has broken through the supply area and is now transitioning to the demand zone. If this scenario plays out as expected, it is probability that ICP will continue its upward movement and aim to reach our target in the bearish OB area. ๐Ÿ’Ž However, if ICP fails to maintain its position above the demand zone and breaks down below it, there is potential for the price to return to the support area to build new upward momentum. ๐Ÿ’Ž The support area is a critical zone, and it requires a bounce to prevent the price from heading to the Bullish OB area or potentially moving even lower.
by MyCryptoParadise
ICP โ†’ Pullback to Support Zone Over? Time to Long? Almost!ICP ran three pushes up in an ascending wedge reaching $16.33, followed by a pullback with three pushes down and a strong bull signal. Is it time to long? How do we trade this? ๐Ÿค” A long entry could be justified here. Here's what we have in favor of the long bias; Three pushes up in a bull channel ending at $16.33, followed by three pushes down in a micro-bear channel with strong bull signal bars, and we have a good follow-through bars leading up to the price action being just above the Daily 30EMA. What would give us maximum justification is a re-test of the Daily 30EMA as support to add probability to our long. However, I do not believe this is required to justify a long entry. I believe we need to be conservative longing at this stage in the crypto market, which is why I only advocate for a 1:1 scalp at a lower-than-maximum position size allowed for your trading strategy. I think Bitcoin and Ethereum have a larger pullback on the horizon, but do believe the market will come up a bit before it goes down. ๐Ÿ’ก Trade Idea ๐Ÿ’ก Long Entry: $12.32 ๐ŸŸฅ Stop Loss: $9.15 โœ… Take Profit: $15.50 โš–๏ธ Risk/Reward Ratio: 1:1 ๐Ÿ”‘ Key Takeaways ๐Ÿ”‘ 1. Three pushes up into an ascending wedge. 2. Micro Bear Channel forms with three pushes down. 3. Strong bull signal bars on each push down. 4. Not required, but suggested to wait for re-test of Daily 30EMA as support. 5. RSI at 57.00 and above the Moving Average, supports long bias. ๐Ÿ’ฐ Trading Tip ๐Ÿ’ฐ 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. โš ๏ธ Risk Warning! โš ๏ธ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like ๐Ÿ‘ and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
Long
by TraderEngineering
1