We are going higher for the past 3 days, but volume is getting lower on each day. RSI is showing a small bearish divergence for the past days. We have not yet retested the brake out line and 50day EMA with a red candle.
This is just an idea, because we cannot go up in a straight line. We are still in an uptrend and ICP will reach higher targets in next days, weeks. Everyone is just publishing the positive here, so lets keep in mind some small bearish scenarios too.
Keep it safe and have an awesome day! Hit a like if you appreciate my thoughts.
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This is more for those who are using high leveraged position and have short stop loss or those who are thinking to fill up they're bag with a bit of discount. We are still in an uptrend overall.
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This could be the day that we retest the 50$ range. Some indicators are showing a bearish sign.
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Nov 8 and Nov 9 have formed some kind of double top pattern too. This is bearish sign.
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53.78$ there is 50 day EMA line. If we drop belove this, then it signals for a further drop to about ~48-50$ to touch 180 day EMA and have a bounce off from it
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48-50$ strong support should be if it goes that low.
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ICP has made a higher low on RSI , this might be a sign of it starting to reverse back up. But its just on 15min chart. 4h chart still MacD is going down.
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Bottom of channel and last breakout line has been reached at 49$ mark,
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On daily timeframe we bounced back nicely from 50 day EMA with a lot of buy power. My estimate is this is the bottom and we are moving now back up in the channel with next target of around 60$
Still be careful for few hours now to see a confirmation of few green candles closing above 49$ , if not then it might wick down further to 45-47$, worst worst case is that a scam wick forms and touches 42$ for a brief moment and shoots back up, but hopefully 49$ support holds and we recover now back
It appears with daily close below $54.36 and downtrend since we hit $57 then $48.55 is the target ? To refuel I hope or back to lower trend line again.
@MrPeterG, Thanks I hope it holds if btc if retests 62500
islandbouye
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I have seen in charts every month token release 10 November next and price dips not sure if this is a the above but pattern detected ? So I’m unsure if dip ahead as of ?
@islandbouye, I think it will try to retest the 50$ range before trying to push up again. But anything is possible and it could try to go higher too, but it has to go down soon anyways for a day just to build up more power.