Internet Computer (ICP) 50% crash incoming....

2024年11月2日

On the above chart price action has been trading sideways since June. Recent developments suggest a bearish outlook. They include:

1) Price action and RSI support breakdowns.

2) Trend reversal confirmation with double top print.

3) Rising wedge confirmation with 50% correction forecast to $4 area.

Is it possible this is all gibberish and fundamentals don’t care for Technical Analysis? Sure.
Is it probable price action will correct as forecast? Very likely.

Ww

2024年11月18日

交易結束：達到停損點

Ha! That got stopped out rather quickly. Price action cannot enter the wedge and remain bearish.
Rules are rules.

Except $12 to offer resistance, it was the broken market structure level.
If it breaks, then you've got a flag pattern forming. Ask me to study at that point.

2024年11月25日

註釋

Request on the last update for $12.

Price action is now AT market structure, it is not *confirmed* as broken. This is a resistance test.

On the 5 day chart below you are looking for a candle body to close above market structure. Not through it, above it.

That day is December 1st. If that happens, ask me below to update the idea.