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.
Buy Limit Order @ 49.39
TP 1 @ 51.30
TP 2 @ 52.00
Stop Loss @ 48.75
Trade Safely 🙂