Updated

ICP/USD Main trend. Reversal zone. 911

Logarithm. Time frame 1 week. The main trend (all trading history).
Linear chart to illustrate the trend direction and reversal zones.

Coin in coinmarketcap: Internet Computer ICP

Same for comparison on a candlestick price chart.

ICO 2018 Token Price: 1 ICP= 4 USD
From maximum (liquid) pumping, the price is down -98.21%
Shown are the two potential accumulation and distribution zones and the average percentages from them.

Don't forget, the whole world is in an unprecedented artificial recession. The residual panic of capitulation has not yet occurred. If there is a significant but short-term rise in the markets, take advantage of it. Be aware of the phenomenon of "false trend reversals. Do not forget to comply with risk management.

A sophisticated profit percentage and skillful management of the potential risk/profit ratio can significantly increase your trading depo. It is important how much you earn when you are right and how much you lose when you are wrong. Initially, before entering a trade you must know these potential values. If you can't determine them, or the risk is too big, you must refrain from trading.

Secondary trend. Time frame 3 days.

ICP/USD Channel 177d Reversal zone Party 911 Isle of Dogs Rocket

ICP/USD Channel 177d Reversal zone Party 911 Isle of Dogs Rocket

All local and medium-term work in the reversal zone I showed in the idea of a secondary trend.

Note

I showed it on a linear one to remove the "market noise". The price from the 3.82-4.00 squeeze zone has now risen 13.82% to the resistance of the main trend (red descending line). Reversal zone. Percentages to key levels from this zone showed.

Decide whether you trade with a stop from zones locally or without it from the average buy/sell price. Important. Never forget about "swans". Therefore, you should always have money from the profits from local trading or cash in advance, in case of an unexpected black swan.

Do not trade a coin - trade cycles and "time between them".

Note

Local situation. Time frame 1 day. The whole sideways zone of 244 days. The price at the moment on the shallow time frame outside of the downtrend line of the main trend.

The coin is currently trading at the 2018 ICO price. There has been no significant takeout for full capitulation yet (not necessarily that there will be), only entry into the StopLoss zone under the former channel (the price is 2 months old). The local interest from this zone is shown.

Having reread several forums and chats where this coin is discussed, one feels depressed and disappointed. This is a good sign of "killing faith" and surrender.

Note

+33.18% for the specified percentage and zone. Double bottom. The price has hit a mirror resistance level at the moment (the former support of the horizontal accumulation channel). important area.

Positive.
Fixation above the level of 5.275 - the first target is the range of the previous channel.

Negative.
Not fixing above the level of 5.275 (the general situation on the market, rollback) - a decrease to the previous support of 3.365 or, for a start, to the ICO price - $4

Note

almost +60% at this point in time with a trend reversal from the $4 level. The important support zone is 5.275. If there is a pullback, this zone is likely. Then if you are trading locally you need to be careful.

February 1 (NY) is a crucial time for the stock market and cryptocurrencies. There could be a strong price reaction.
February 11 is the next monthly ICP coin batch rollout (last on August 11).

Note

Rollback (break-up time at least on the 11th0 within the uptrend to the area indicated by the arrow (re test of mirror level support) and the continuation of price growth in the trend. Second wave. +103% from the reversal. The conditional ascending expanding triangle for the orientation of local targets. Often on low-liquid assets during the active phase of the pumppa this formation breaks.

These pullbacks can be traded (specifically timed the breakups to August 11 last) if you are working as a medium-term trader. This pullback is -20%. Partially or completely sell before the main resistance levels and buy back before support considering the strength of the local trend.

But it is not necessary. You can just move the stop on the protection of profit, taking into account the trend and volatility in it. The choice is yours, it's relevant to any cryptocurrency.

Note

From the level of 8,372 a pullback to the level of 5,275 (5,360). Consolidation and price clamping in the zone of the neck of the potential head and shoulders in case of a break down (mirror support level, i.e. former local resistance). In the case of fixation above this zone, the continuation of the movement in the upper part of the accumulation channel.

The important local levels and the percentage of them are shown on the chart. Do not forget about the systematic breaks of the coins.

Note

Clamping of the price, exit from it. +30% from the reversal price level of 5.360 to the local resistance level of this accumulation zone of 6.93. Rollback back to 5.360. A local "helicopter" was formed in this price zone. The percentages from this long/short zone are shown.

Note

In the horizontal 385-day accumulation channel (ICO 2008 price of $4), a downward wedge has formed at the moment. The price is at the very corner of the formation in the support zone of 4,777. The percentages to the key local levels from this zone are shown on the chart.

Note that the last coin flip on the plan was on 08/11. There is not always a local decline before the split. The closer to the end, the less impact on the price locally, for obvious reasons. There are fewer and fewer sellers.

Note

Main trend on 2 06 23 and the local wedge zone in it. The 385 day sidewall is near the 2018 ICO price (4.5 years ago). The price is now $4.5.

Decline from price high of -98% The reason for the inadequate price after the ICO, is the manipulation of coin splits. Limited number of coins on the market when listing on top exchanges. Only developers could sell $1,500-$250 per coin.

Note

ICP/USDT Secondary trend. accumulation channel. Reversal zone

In a month there will be the last unlock of coins in August. Now the price is in the price zone - ICO 2018. The accumulation channel is currently 431 days. A fractal structure is observed with a previous exit from a local triangle. He showed two options for a local interchange in the accumulation zone:

1) exit from the local triangle as before.
2) and with the removal of stop-loss (descending pennant).

The first significant resistance zone after exiting this accumulation (a large bowl is formed) is around +300% (not price lows and highs, but an average value).

SpartaBTC

✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

SpartaBTC

✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2

Also on: