Hello traders , i found interesting chart for ICP and decided to share it to my followers and others💲🚀
so let's start with the daily chart :
if you look at the RSI you can find out , that there is clear bullish divergence between RSI and price , and also it's seems that ICP try to create W pattern over on the daily support structure ( blue support box ) and in my opinion you can consider these signs as bullish indicators for ICP price .
there is 2 different method that you can open long position :
1_ wait for the ICP price to break out from the daily downward trend line and retest it as new support and close above it .
2_wait until that ICP price break the neck line of the W pattern , in this case we have very strong resistance at the W pattern neck line , because in that level ICP have 3 resistance points comes together :
(a) W pattern neck line
(b) ema ribbon
(c) daily resistance structure
so if you want to trade based on method (2) make sure to find best place to open long position .
but what is the price targets for the ICP ?🚀
as you can see in the picture above , the technical target of the W pattern is around 70$ and also this level is alignment with 1.618 fibonacci projection level and the daily resistance structure ( blue box ) so if you open long position based on the method (1) you can take advantage of the 50% price pump
so let's start with the daily chart :
if you look at the RSI you can find out , that there is clear bullish divergence between RSI and price , and also it's seems that ICP try to create W pattern over on the daily support structure ( blue support box ) and in my opinion you can consider these signs as bullish indicators for ICP price .
there is 2 different method that you can open long position :
1_ wait for the ICP price to break out from the daily downward trend line and retest it as new support and close above it .
2_wait until that ICP price break the neck line of the W pattern , in this case we have very strong resistance at the W pattern neck line , because in that level ICP have 3 resistance points comes together :
(a) W pattern neck line
(b) ema ribbon
(c) daily resistance structure
so if you want to trade based on method (2) make sure to find best place to open long position .
but what is the price targets for the ICP ?🚀
as you can see in the picture above , the technical target of the W pattern is around 70$ and also this level is alignment with 1.618 fibonacci projection level and the daily resistance structure ( blue box ) so if you open long position based on the method (1) you can take advantage of the 50% price pump
