Possible short downside to 47-48$ for a retest of support.
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.
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 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
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
We are still in an uptrend overall.