I am a firm believer in the adoption of cryptocurrency and blockchain technology and one of those that I believe in most is Internet Computer Protocol.
Upon release, the coin hit 2800USD....and then tanked.
I speculate it tanked as there were many people desperate to cash out their free ICP air drops, to a market that didn't have enough buying pressure...bummer.
So, fast forward and the last 2 months have been fantastic to trade. There is never a shortage of good set ups. One tip I will offer is DO NOT GO ALL IN.
A majority of wall street bets redditors regularly post their losses due to their crazy actions. Don't trade with enormous leverage.
Now, I see ICP/USD rising up to large levels. It'll be a long time, perhaps two years or so, until we hit 2000+ USD a coin. That's ok. I bought bitcoin in late 2018. I was happy selling earlier this year. You don't get rich overnight.
Look to my chart. You will see two fractal analyses. One, is the 4 hour chart. Two, are the large white numbers that signify the daily waves on a higher fractal.
On the 4 hour chart we are in the midst of a wave 2 correction. As one must trade what the market gives them, I never draw a conclusion as to where a "bottom" has occurred. Don't do that, you'll get wrecked.
BUT- as we have done a 61.8% correction (the $50.xx support level), a common retracement for wave 2, I am comfortable calling a probable bottom. Don't quote me as it being a "certain" bottom, it's only my speculation and may change.
The markers on the chart, showcasing my speculations of the future, are target prices. Wave 3, wave 4, and wave 5. We are currently in wave 2.
As of this writing, I assume we are in a subwave B of wave 2.
It could be a flat, expanded flat, or it could be a zig-zag. We may even enter a triangle. I do not know.
I see 50.XX as a launch pad for wave 3. That'll bring about some nice gains. Follow the price action closely now as we are entering a zone that'll provide fat price spikes.
Caveat, once again, the wave 2 may drop lower and I never advocate for a crazy buy in all at once. Am I buying? Right now I am swing trading.
SO- how long till we see them tendies? I don't know, I don't believe in time spirals. Only disciplined people checking the charts often stay on top of the game.
ICP is the coin that aims to blockchain-ize the current server infrastructure and get rid of our dependencies on Amazon, Google, Microsoft servers. If you're a coder, you know what I mean.
It uses its own network, not like Matic that piggybacks off of Ethereum.
Putting aside the aim of each project, ICP/USD has a very good set up on the horizon.
Long term, prices now are insanely cheap for what the fractals can deliver.
And in my humble opinion, ICP could experience ridiculous gains in a short period of time. Once we get into the daily fractal, perhaps next year, that's got the potential for over 2000 a coin and onward!
Disclaimer: this is my analysis and my own opinion. I do not recommend blindly following people's opinions. Always ensure you are doing your due diligence as a trader, whether you are a novice or a veteran.
I welcome others' analyses should they wish to share them.
Upon release, the coin hit 2800USD....and then tanked.
I speculate it tanked as there were many people desperate to cash out their free ICP air drops, to a market that didn't have enough buying pressure...bummer.
So, fast forward and the last 2 months have been fantastic to trade. There is never a shortage of good set ups. One tip I will offer is DO NOT GO ALL IN.
A majority of wall street bets redditors regularly post their losses due to their crazy actions. Don't trade with enormous leverage.
Now, I see ICP/USD rising up to large levels. It'll be a long time, perhaps two years or so, until we hit 2000+ USD a coin. That's ok. I bought bitcoin in late 2018. I was happy selling earlier this year. You don't get rich overnight.
Look to my chart. You will see two fractal analyses. One, is the 4 hour chart. Two, are the large white numbers that signify the daily waves on a higher fractal.
On the 4 hour chart we are in the midst of a wave 2 correction. As one must trade what the market gives them, I never draw a conclusion as to where a "bottom" has occurred. Don't do that, you'll get wrecked.
BUT- as we have done a 61.8% correction (the $50.xx support level), a common retracement for wave 2, I am comfortable calling a probable bottom. Don't quote me as it being a "certain" bottom, it's only my speculation and may change.
The markers on the chart, showcasing my speculations of the future, are target prices. Wave 3, wave 4, and wave 5. We are currently in wave 2.
As of this writing, I assume we are in a subwave B of wave 2.
It could be a flat, expanded flat, or it could be a zig-zag. We may even enter a triangle. I do not know.
I see 50.XX as a launch pad for wave 3. That'll bring about some nice gains. Follow the price action closely now as we are entering a zone that'll provide fat price spikes.
Caveat, once again, the wave 2 may drop lower and I never advocate for a crazy buy in all at once. Am I buying? Right now I am swing trading.
SO- how long till we see them tendies? I don't know, I don't believe in time spirals. Only disciplined people checking the charts often stay on top of the game.
ICP is the coin that aims to blockchain-ize the current server infrastructure and get rid of our dependencies on Amazon, Google, Microsoft servers. If you're a coder, you know what I mean.
It uses its own network, not like Matic that piggybacks off of Ethereum.
Putting aside the aim of each project, ICP/USD has a very good set up on the horizon.
Long term, prices now are insanely cheap for what the fractals can deliver.
And in my humble opinion, ICP could experience ridiculous gains in a short period of time. Once we get into the daily fractal, perhaps next year, that's got the potential for over 2000 a coin and onward!
Disclaimer: this is my analysis and my own opinion. I do not recommend blindly following people's opinions. Always ensure you are doing your due diligence as a trader, whether you are a novice or a veteran.
I welcome others' analyses should they wish to share them.
Comment:
And so the speculative nature of the market manifested itself. I did say that "bottom" was merely my speculation based off of probability. But the probability gave us the less desirable move...downward. I saw a triangle forming over the last two days...but this triangle failed to retrace high enough to count as a B wave. It did however, retrace to just barely 38.2%. This nulls the possibility of a higher fractal wave B and tells me that we just completed larger fractal wave A. I will upload a snapshot of my updated chart for clarification.
Comment:
So lo and behold I haven't posted a snapshot as I don't see the option on the desktop. So a correction is tricky. It may unfold in a more complex pattern or this current structure is one that will end the correction and serve as a launch to new highs. Right now, the current level is at a place of previous resistance and it will act as a support. This may be a good place to add long positions. Long as in a few weeks, months, maybe even a year. Tread carefully...or not!
Trade active:
I bought in at 44 and some change. Good luck to people in on this trade.
Trade active:
Still HODLing :) I have a very large profit target so my subsequent risk/reward ration is large, but encompasses the relatively small (in the perspective of a larger fractal) price swing. Cheers!
Trade active:
The retracement seems to have halted and we are slowly treading sideways. This will be a good buy zone for further purchasing.
Trade active:
Price target now is about 70-80 before another dip happens. Aka another buying opportunity!