ICPUSD trade ideas
ICP: The Early Bird Catches the GainsEntered ICP at 42.66, and collected 64% gains in 6 days. Not a bad return. The good news is it isn't over yet. So in case it runs even further I designated a new set of Fibonacci targets. The early bird catches the gains my friends.
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ICP is close to the refill zoneHey Traders,
The chart shows my trading plan for $ICP in the near term. We've got a nice impulse going but this obviously will depend on BTC. I think we get an opportunity to refill our bags between $52 - $48 range, I plan on scaling in here with a stop loss below $47 (below $47 would invalidate that we're in an impulse). I think we could ride this sub wave 3 of the larger three wave to the 1.618 or 2.618 fib extension, $95 or $120 zones respectively (red boxes). I've drawn out the more conservative estimate ending at the 1.618 fib extension (TP1) ending the sub wave 3 but we could definitely see it extend up to the 2.618 (TP2). If sub wave 3 goes up to 2.618 fib extension, then I would need to update the chart because our ending wave 5 would be much higher. The yellow wave count looks to be our overall count while the light blue wave count is the sub waves comprising wave 3 of the larger yellow wave count.
I'll update when necessary,
Cheers!
This idea is just that, MY IDEA, you should formulate your trading plan based on your own opinions and never follow someone else without doing your own research!
ICP SWING TA: ICP has just broke out of it's accumulation area, and broke significant structure. The bullish movement is now seeing a retracement, which is measured with the fib. This is giving us a great opportunity to average into ICP during this pullback, in anticipation of bullish continuation.
FA: ICP had the most impressive launch in crypto history IMO. Their launch into the public crypto markets shot ICP into the top 10 of crypto market cap. The initial investors obviously sold into the hype and profitted tremendously. We have now seen the market find it's fair value for ICP and found the bottom. The technicals are clear, and there is MAJOR money behind this project.
The Dfinity foundation is a very powerful organization and has ties to major institutions. Their vision is quite ambitious, and they seek to create the blockchain singularity. To break their product down to easier to understand terms, it is a smart contract platform. Ethereum is the most popular smart contract platform. To use ICP you need to provide a digital identity. This gives me very matrix like vibes and this project's official title is called The Internet Computer.
Follow the money ;)
ICP waking up ?caught just below the last weekly bearish fib lvl 618, the price movement seems like a correction, if the price can get above .65 line at 44.68 , then an upwrd movement will replace the corrective move having as major resistance the three pink boxes drawn in the chart. passing each will transform it to support leading to a higher rise.
so , entering long position after passing the 44.68 seems like a logical idea.
obviously not a financial advice
Internet Computer (ICP) • Potential setup ICP is looking here good for possible entry with clear stop under the recent local low.
Worth to explore long setup here.
Like many other alts this is an illiquid market and heavy dependent on what happen to Bitcoin and rest of altcoin market.
This can quickly go to zero so be careful with risk allocation. ICP is highly speculative.
I also outline few interim target zones where we are likely to see some resistance.
Trading bellow $38 invalidates setup.
ICP/USD Short PERFECTIONICP after it’s dead cat bounce is back to making new lows, last short was a success with a $28 target, now that $28 has been broken, a short down to $10 is in play.
I plan to short down to $1, and see if it is able to hold at that level once the market stabilizes. I do see Bitcoin springing soon, I do not see ICP regaining much other than $28-$32.
Perfect Buying OppurtunityAs the title suggests, this a a perfect buying opportunity. A new project that will probably do very well in the future, down 95% and just double bottomed. This coin could do over 1000x during the next run up. Awesome project, brand new, cheap. Rare opportunity to get in a good project like btc or eth early. That's where all the $ is made, not people who buy when the price is already up 100's or thousand's of x. "HODL BTC!" The price is up 3 million x, how much money are you going to make? People just like to jump on hype trains, get in early before anybody is interested, before its exciting, while its boring, and you will make it. It's called smart money for a reason, so later dumb money can wish they had bought sooner, or hadn't had paper hands and sold out early out of impatience and lack of experience. This may not be a short term play, it could take years for this investment to mature, those who are willing to take the opportunity, and have the patience to hold until its life changing will succeed.