TradeCityPro | ICPUSDT Missed the Market Move? Don’t FOMO
2025-01-07
Category: None

👋  Welcome to TradeCityPro Channel! 
Let’s analyze the market during a day when it has finally shown some movement, focusing on coins with clear triggers.

💥  Avoid FOMO 
The reason we create daily content for this community is to emphasize the importance of analyzing the market daily and identifying triggers before taking trades. This prevents you from acting impulsively and becoming a profit target for others who entered earlier.

🌐  Overview Bitcoin 

Before analyzing today’s altcoin, let’s quickly review Bitcoin on the 1-hour timeframe. As mentioned yesterday, Bitcoin’s movement was predicted. After breaking the 98606 trigger, a long position with a stop loss at 97343 was suggested, considering the potential for whale-driven moves at higher levels.

Additionally, if Bitcoin dominance broke the 57.08 resistance, opening positions on Bitcoin was the preferred approach. Otherwise, a switch to altcoins was recommended.
Here’s my position: R/R 3. The triggers I share are the same ones I use in my trades. Remember, not every day requires action!

If you missed the move, should you open a long position after breaking 102208? Not yet. While the current timeframe suggests caution due to overbought conditions, you can consider this on the 15-minute chart. My recommendation: focus on identifying altcoin triggers to stay ahead of the market.


📊  Weekly Timeframe 

ICP has seen a significant move since its support at 2.868, rallying by around 400%. Recently, it has consolidated and established strong support at 6.603, which aligns with the 0.5 Fibonacci level and the 50% Dow Theory level, highlighting its importance.

If you entered at lower levels, consider taking out your initial investment or exiting below 6.603. If you bought after the 9.684 breakout, patience is key. Given the potential for an early breakout above 14.879, maintain a stop loss at 6.603.

For re-entry, a break above 9.684 signifies a lift-off from the midline of its horizontal range, suggesting a stronger likelihood of breaking 14.879. Increased volume confirmation post-breakout can validate a buying opportunity.

Let’s address the fake breakout at 14.879. Unlike the 2.868 level, which saw sustained price action and a move upwards post-daily box formation, the 14.879 breakout was merely a single candle spike followed by an immediate reversal.


📈  Daily Timeframe 

ICP remains in its large range box, oscillating between 6.691 and 15.22. A sharp move is expected upon breaking either the upper or lower boundary of this range.

ICP has already begun moving after breaking its smaller box resistance at 9.834. It has retested this breakout, unlike some coins that re-enter their boxes, underscoring ICP's bullish momentum compared to peers.

Currently, ICP faces resistance at 12.409, which was previously ignored but has regained significance. Staying above 11.281 provides an opportunity for small preemptive buys, but the main trigger remains 15.22.


⏱  4-Hour Timeframe 

ICP’s chart looks promising, as it has broken out of its 4-hour box and is consolidating below the next resistance level, presenting a potential entry trigger.

Drawing Fibonacci levels from the start of the drop reveals reactions at all levels. Currently below 0.618, breaking this level could propel ICP to the 13.697 resistance. Remaining above 11.333 and the 0.382 Fibonacci level highlights the importance of the 12.476 resistance.

📈  Long Position Trigger 
If you didn’t open a position at 11.333, it’s still fine. Momentum has entered this chart. After breaking 12.476, you can open a long position with a tighter stop. Ensure volume increases and RSI enters overbought territory to manage risk.

📉  Short Position Trigger 
Currently, I’m not planning any short positions. If 12.476 faces a fake breakout and reverses, I’ll look for short setups in lower timeframes using a fake breakout strategy.

📝  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! ❤️