May 21, 2021, a person in the TV chat told me about ICP being like the little nugget that was going to explode.
Rule number 1: Do not follow the advice of others blindly! Doing so, I avoided 90% of decline, but many were not so lucky.
Before going any further, what is ICP – Internet Computer?
The ICP ecosystem seeks to revolutionize the internet by creating a decentralized web 3.0. In summary, Internet Computer aims to remove the domination of Tech giants like Google or Facebook (Meta).
At the time, this crypto had caused a stir and aroused great enthusiasm. ICP quickly found itself in the top 10 cryptos with a market capitalization of $55 billion. Almost a year later, ICP is still in a long-term decline and the market cap keeps falling under $4b.
What do we see on the graph?
1. The price has been stuck below a trendline since May 24, 2021. (White dotted line).
2. RSI resistance since August 30, 2021 (white dotted line).
3. Currently, each lower top hits at least one of the two resistances mentioned above before being rejected.
4. The Fib time zone tool seems to give the reversal zones, so we can potentially anticipate the next reversal on May 09, 2022.
5 & 6. In the event of a bullish recovery, the following resistances are the previous tops, the different levels given by Ichimoku (blue line). It will also be necessary to pay attention to the center and high point of the channel.
CAUTION: If you want to take a position on ICP by buying the bottom of the channel, keep an eye on BITCOIN. If the BTC starts falling, there is a good chance that ICP will plunge with it by breaking its supports. Example ; BTC wick at $34,400 made on Feb 24, 2022 which took ICP below his descending channel. Also, Keep an eye on chikou / lagging span of the Ichimoku. It can slow / stop the progress if ICP starts increasing after the breakout of the actual trendline.
And you, what do you think about ICP ?
Give a thumbs up! Your support is greatly appreciated =)
Check out my idea on BITCOIN (BTC) “Neutral, but? " !
Rule number 1: Do not follow the advice of others blindly! Doing so, I avoided 90% of decline, but many were not so lucky.
Before going any further, what is ICP – Internet Computer?
The ICP ecosystem seeks to revolutionize the internet by creating a decentralized web 3.0. In summary, Internet Computer aims to remove the domination of Tech giants like Google or Facebook (Meta).
At the time, this crypto had caused a stir and aroused great enthusiasm. ICP quickly found itself in the top 10 cryptos with a market capitalization of $55 billion. Almost a year later, ICP is still in a long-term decline and the market cap keeps falling under $4b.
What do we see on the graph?
1. The price has been stuck below a trendline since May 24, 2021. (White dotted line).
2. RSI resistance since August 30, 2021 (white dotted line).
3. Currently, each lower top hits at least one of the two resistances mentioned above before being rejected.
4. The Fib time zone tool seems to give the reversal zones, so we can potentially anticipate the next reversal on May 09, 2022.
5 & 6. In the event of a bullish recovery, the following resistances are the previous tops, the different levels given by Ichimoku (blue line). It will also be necessary to pay attention to the center and high point of the channel.
CAUTION: If you want to take a position on ICP by buying the bottom of the channel, keep an eye on BITCOIN. If the BTC starts falling, there is a good chance that ICP will plunge with it by breaking its supports. Example ; BTC wick at $34,400 made on Feb 24, 2022 which took ICP below his descending channel. Also, Keep an eye on chikou / lagging span of the Ichimoku. It can slow / stop the progress if ICP starts increasing after the breakout of the actual trendline.
And you, what do you think about ICP ?
Give a thumbs up! Your support is greatly appreciated =)
Check out my idea on BITCOIN (BTC) “Neutral, but? " !