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ICP/USDT (Futures) Potential Upward Movement

ICP/USDT (Futures) Long-Term Trend: Bullish

Key Resistance Levels: 51.82, 52.00, 52.50.

Key Support Levels: 49.46, 49.00, 48.50.

1 Hr Chart:

The price on the higher time frame found support near the area of confluence made of the bespoke support and the 61.80% Fibonacci retracement around the 49.50 USDT mark. This shows that the pullback ended and its time for a new impulsive wave toward the upside.

ICP/USDT (Futures) Medium-Term Trend: Bullish

5 Mins Chart:

On the lower time frame, the coin managed to break the descending channel to the upside after finding bulls around the bespoke support. This is represented by a double bottom formation and a higher low. The market could retrace to the support level before a new move to the upside toward the target profit.

Signal Idea:

Buy Limit Order @ 49.39

TP 1 @ 51.30

TP 2 @ 52.00

Stop Loss @ 48.75

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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