TradeCityPro | ICPUSDT Early Entry Points
2025-01-22
Category: None

👋 Welcome to TradeCityPro Channel!
Let’s update the analysis of ICPUSDT, one of my favorite altcoins. We'll review the new triggers for potential early entries together.

🌐 Overview Bitcoin

Before diving into the analysis, as always, let’s take a look at Bitcoin on the 1-hour timeframe. Bitcoin shows potential for upward movement, as recent candles have pushed its price higher. With increasing volume, it could even set a new ATH. A breakout above the 108454 trigger could present a risky long position with a wide stop-loss.

As Bitcoin’s dominance is rising, this indicates that bullish movements may first occur in Bitcoin. It’s better to focus on Bitcoin or coins with a strong performance relative to Bitcoin.


🕵️‍♂️ Previous Analysis
In our last analysis, the trigger for a long position was 12.476, but it was never activated. Instead, the price rejected from that level, breaking our lower timeframe trigger. Sellers took control, causing Fibonacci levels to be revisited and the price to move towards the 9.821 support.


📈 Daily Timeframe

Currently, after rejecting the 11.333 resistance, the price has entered a triangle pattern and is consolidating. A breakout from this triangle seems imminent.

When the price rejected from 11.333, we observed increased volume, which isn’t ideal for bullish momentum as it highlights the strength of sellers. However, the price is now sitting on a critical support level, which is also the 0.618 Fibonacci level and the top of the daily box, now acting as daily support.

The daily candle looks promising, sitting on a strong support level. You can consider buying based on this setup, but I prefer to wait for the continuation trendline to break or for the 11.333 trigger to be breached. The 11.333 level is especially significant after the recent rejection. If we see increased volume upon breaking it, I’ll enter a position myself.

For exiting this coin, as long as we remain above $7, I’ll continue holding unless negative news arises. Keep in mind that my entry point is 3.582, which I previously mentioned. Exiting below $7 would still be in profit for me. However, I recommend exiting at current levels if your entry was higher.


⏱ 4-Hour Timeframe

After rejecting the 12.476 level, the price dropped to 9.466, where it seems to have stabilized, and bearish momentum has subsided.

📉 Short Position Trigger
I’ll consider opening a short position if the 9.466 support is broken. Profits from this trade will be used to accumulate more ICP, effectively making my holdings cost-free.

📈 Long Position Trigger
For a risky long position, you can enter after the continuation trendline breaks. Personally, I prefer waiting for the price to reach 11.411 and break that level before entering a long position. This ensures that momentum has entered the coin, allowing me to trade with greater confidence and potentially set a tighter stop-loss.


📝 Final Thoughts

Stay calm, trade wisely, and let's capture the market's best opportunities!

This analysis reflects our opinions and is not financial advice.

Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️