Seems like ICP might be entering an accumulation phase as long as it holds $30. Momentum is rising but with accumulation failing, the price might stabilize or correct a little. I believe a breakout over $60, holding it as support should bring it to a trajectory $200+
Overview of chart:
-Momentum flowing to the upside while price is stabilizing
-Might be at the end of Primary wave 2 between $34-$37, invalidation at $27
-Volume Profile PoC is of an intermediate impulse wave. It has confluence with a 0.618 fib retracement of Primary wave 1
-Minor bearish divergence with ADL (Accum/Distr. Line) seeing price stabilize but accumulation falling. Might result in a minor drop to ~$34 to hit the intermediate wave c target.
-Monthly S1 of CPR has confluence with wave C target
-Median line of fork held as support throughout the corrective wave. If broken, there is a stronger likelihood of impulse invalidation.
Overview of chart:
-Momentum flowing to the upside while price is stabilizing
-Might be at the end of Primary wave 2 between $34-$37, invalidation at $27
-Volume Profile PoC is of an intermediate impulse wave. It has confluence with a 0.618 fib retracement of Primary wave 1
-Minor bearish divergence with ADL (Accum/Distr. Line) seeing price stabilize but accumulation falling. Might result in a minor drop to ~$34 to hit the intermediate wave c target.
-Monthly S1 of CPR has confluence with wave C target
-Median line of fork held as support throughout the corrective wave. If broken, there is a stronger likelihood of impulse invalidation.
Commentaire:
BTC pair also has a bull div. but accum. is falling
Commentaire:
Bull div. did not work out along with hitting the impulse invalidation level... I honestly would not be surprised of a $15-$20 icp.
