Update on coin $ICP , terrifying parabolic rise🔥.. beware the bagholder⚠️
Coin $ICP is on fire🔥 and has recorded a strong rise of around 13.5%, but technically the indicators have entered truly dangerous zones and excessive overextension. Random entry now could expose you to a harsh bagholding situation. I merged the timeframes
And the summary:🔎
🟢 Daily timeframe: the price is hitting hard against resistance at 3.037 and the RSI has reached 85, meaning buying from here carries major risk because we are at the peak of the current wave.
🟡 4-hour timeframe: a vertical green bullish candle has shot far away from all moving averages and the RSI has entered severe and terrifying overbought conditions above 91, which historically means correction is near
🔵 15-minute timeframe: the price is moving sideways below the 3.037 peak while the RSI is overextended at 78 and showing signs of profit-taking and momentary distribution
💡 Spot trade plan:
Confirmation condition: wait for a full, stable 4-hour candle close above the 3.050 level to confirm the break of the strong resistance
Entry price: between 3.040 and 3.060.
🎯 Targets:
First target: 3.200
Second target: 3.350
🛑Stop loss: a 4-hour candle close below 2.800
⚠️ Best technical advice is to avoid entering now and wait for the price to pull back, make a healthy correction, and retest the support areas between 2.650 and 2.750 so you can catch it from the bottom safely.. missing profit is better than losing capital.. this is a personal analysis, not financial advice ...good luck everyone💸🤲
#ICPUSDT #Binance #CryptoAnalysis #TechnicalAnalysis #Altcoins
#تحليل_العملات_الرقمية
Coin $ICP is on fire🔥 and has recorded a strong rise of around 13.5%, but technically the indicators have entered truly dangerous zones and excessive overextension. Random entry now could expose you to a harsh bagholding situation. I merged the timeframes
And the summary:🔎
🟢 Daily timeframe: the price is hitting hard against resistance at 3.037 and the RSI has reached 85, meaning buying from here carries major risk because we are at the peak of the current wave.
🟡 4-hour timeframe: a vertical green bullish candle has shot far away from all moving averages and the RSI has entered severe and terrifying overbought conditions above 91, which historically means correction is near
🔵 15-minute timeframe: the price is moving sideways below the 3.037 peak while the RSI is overextended at 78 and showing signs of profit-taking and momentary distribution
💡 Spot trade plan:
Confirmation condition: wait for a full, stable 4-hour candle close above the 3.050 level to confirm the break of the strong resistance
Entry price: between 3.040 and 3.060.
🎯 Targets:
First target: 3.200
Second target: 3.350
🛑Stop loss: a 4-hour candle close below 2.800
⚠️ Best technical advice is to avoid entering now and wait for the price to pull back, make a healthy correction, and retest the support areas between 2.650 and 2.750 so you can catch it from the bottom safely.. missing profit is better than losing capital.. this is a personal analysis, not financial advice ...good luck everyone💸🤲
#ICPUSDT #Binance #CryptoAnalysis #TechnicalAnalysis #Altcoins
#تحليل_العملات_الرقمية
