ICP Secondary trend wedge zone in accumulation channel 10 2023

Secondary trend. Work with the breakout of the wedge and the range of the horizontal accumulation channel. The price now (narrowed part of the wedge) is in the capitulation zone, that is, under the support of the accumulation channel.


Line chart. of this zone to work.

Secondary trend That is, the horizontal accumulation channel.

ICP/USDT Secondary trend. Accumulation channel.

About mani management in working now on similar medium and low liquidity cryptocurrencies read in the description of this trading idea: RLC/USDT Secondary trend. Decline -63% Wedge. 10 2023

Trade closed: target reached:

+35% first local target resistance at $4,180 from wedge breakout reached.

Trade active

Trade closed: target reached:

from the level of 2,882 (double bottom, wedge breakout) the price has now reached the resistance of 5,360, which is +84% from this support or +67% from the wedge breakout. Notice how in this local trend along the way price took out #stopLoss (gathering #liquidity) on both sides not before significant resistance at 4,180. Price is still still within the range of the horizontal #accumulation channel. This is a pretty strong resistance level.

Trade closed: target reached:

+40% c breaking the local resistance 5,360. Price is moving towards channel resistance, very little left. From the reversal zone of 3,365 (yellow, publication) at the moment +160% Huge trading volume at the moment.

Trade closed: target reached:

pumping "stick" from the accumulation zone for the day +120% into the level of 11,361, which from the reversal (exit from the wedge) and breakdown of the trend reversal level of 3,365 (3 - beginning, 365 - year) is +311%. No matter what happens next, the potential in % terms is no longer that great compared to other futures in this alt season.

Protect profits, after a significant pullback you can re-enter later. Now they will make up news and connect the crowd to "pour in their ears" about the prospects of the previously "unpromising. Do NOT participate in this.

Comment:

THE PSYCHOLOGY OF HUMAN BEHAVIOR ON THE PUMP

In fact, the point is not to guess the minimums and maximums, but to skillfully manage the average set/reset price by mana management. At the minimum prices of the trend (zone), people wait even lower, they will buy only expensively. There are more than 60% of such "doubters" in the market, this is "market fuel" (they do not have their own stable opinion and understanding).

Believe me, whoever "guessed" at a profit does not sell, he waits higher, and if he sold and the pump continues, he will definitely buy more expensive. Thanks to such characters, the cryptocurrency market is super-profitable.

Trade closed: target reached:

pumping continues without any loud "news". The price reached the level of 15,631 (15,330), which is +440% from the reversal, wedge breakout, trade idea publication. The higher the pumping price, the more huge the %, but the less potential and liquidity. Once again it's worth noting, there is no big news. As a rule, news of "prospectivity" appears where local distribution starts, which is logical.

Comment:

and maximum medium-term targets for TA if pumping continues. The highlighted rectangles are zones of stop levels or slowdown of price growth. Remember at what percentage of profit the pumping is now.

Comment:

after local pumping from the trend reversal a clamping zone is formed similarly as on XVS, the zone of levels 11,361-15,631 (note these local "levels" were shown in the secondary trend idea of publication 07 2023 in the accumulation zone, i.e. more than 8 months ago). The key local reversal zones are on the chart and shown with arrows.