🚀ICP Breakout Alert: Get Ready for the Surge 🌟💎 Paradisers, #ICP has broken out of a descending channel and formed an inverse head and shoulders pattern, increasing the likelihood of a bullish move.
💎 The candle has closed above the resistance level, but I am expecting a slight retracement to trap buyers. We can then anticipate a bullish movement from the Fair Value Gap (FVG) zone. Be cautious here and look for bullish signs.
💎 Price may also retrace from here and find support at the bullish Order Block (OB) level, after which we can expect a bounce. So, design your strategy for #ICPUSDT accordingly.
💎 However, if the price shows a fall or panic selling and breaks down below the bullish OB and the right shoulder of the inverse head and shoulders pattern, it will invalidate the bullish signs. In this case, it would be better to avoid it and wait for more favorable price action to develop.
Icpusdtanalysis
💡Don't miss the great buy opportunity in ICPUSDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (64.39).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ICPUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 61.
Take Profits:
TP1= @ 68.67
TP2= @ 71.38
TP3= @ 76.56
TP4= @ 83.03
TP5= @ 91.83
SL= Break below S2
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Bullish on ICP (Long Trade)BINANCE:ICPUSDT
Daily Timeframe
Line T is showing an uptrend.
Line B resistance flipped to support.
Line X is next resistance and Line M is a major resistance.
Aqua Box is now acting as a major support area.
Golden Ratio is sitting exactly near Line M. So, We will take full profit there.