📢 $ICP / $USDT | 🔴 SHORT | ⭐ 73.8%
🎯 Target: $2.2147. Is it still falling?
🎯 Trading levels:
🟢 Entry: $2.3704
🛑 Stop Loss: $2.4638
🏁 TP1: $2.2147
🏁 TP2: $2.1835
🏁 TP3: $2.1212
📉 Analysis:
The structure of $ICP deteriorates after confirming a triple-top pattern on smaller timeframes, with an ADX of 39.19 validating considerable bearish strength. Momentum is clearly negative, supported by a bearish MACD crossover (momentum indicator) and an RSI of 36.91 which still leaves room for further corrections before reaching oversold levels. Selling pressure is persistent, placing the current price below the short-term EMAs and moving away from the POC (point of highest traded volume) located at $2.2748.
⚖️ Risk/Reward: 1:1.67
⏱️ Timeframe: 1H
📐 Technical confidence: 4/5
The invalidation level is set at the Stop Loss, protecting the position if the current pullback’s breakout fails. The bearish thesis remains in place as long as the price does not manage to recover the 20/50 EMA zone and maintains sustained selling volume.
Do you think the support at $2.275 will be enough to stop this bearish impulse?
💡 This analysis is educational and not financial advice. Do your own research and decide calmly.
#crypto #ICP #trading #Futures #Bearish
🎯 Target: $2.2147. Is it still falling?
🎯 Trading levels:
🟢 Entry: $2.3704
🛑 Stop Loss: $2.4638
🏁 TP1: $2.2147
🏁 TP2: $2.1835
🏁 TP3: $2.1212
📉 Analysis:
The structure of $ICP deteriorates after confirming a triple-top pattern on smaller timeframes, with an ADX of 39.19 validating considerable bearish strength. Momentum is clearly negative, supported by a bearish MACD crossover (momentum indicator) and an RSI of 36.91 which still leaves room for further corrections before reaching oversold levels. Selling pressure is persistent, placing the current price below the short-term EMAs and moving away from the POC (point of highest traded volume) located at $2.2748.
⚖️ Risk/Reward: 1:1.67
⏱️ Timeframe: 1H
📐 Technical confidence: 4/5
The invalidation level is set at the Stop Loss, protecting the position if the current pullback’s breakout fails. The bearish thesis remains in place as long as the price does not manage to recover the 20/50 EMA zone and maintains sustained selling volume.
Do you think the support at $2.275 will be enough to stop this bearish impulse?
💡 This analysis is educational and not financial advice. Do your own research and decide calmly.
#crypto #ICP #trading #Futures #Bearish