ICP is very weak against Bitcoin and compared to other cryptocurrencies. It failed to bounce strong at $64 as other cryptos did which means it is likely going lower and especially if Bitcoin drops. I would not short but it's bearish for now.
Not financial advice
Not financial advice
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It bounced exactly what $64 which j expected but the green line is about where I believe it will bounce. Somewhere near $58. Likely a Bitcoin move to downside will trigger a dramatic selloff.
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ICP still looking weak vs Bitcoin. It wants to go to $44. This will be the third retest of $58 and it is likely to tank if it goes that low again.
Shorting at $58 and rebuying at $44ish
Shorting at $58 and rebuying at $44ish
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Rejection at $61.20 multiple times as well it is very bearish right now
Weak bounce off of $64. So it may drop down to $58. Which is the next and last support to keep pattern intact.
I am leaning towards $58 because this crypto makes dramatic moves and also because the btc chart is very weak. Looks bad on all time frames