I am a firm believer in the adoption of cryptocurrency and blockchain technology and one of those that I believe in most is Internet Computer Protocol.
Upon release, the coin hit 2800USD....and then tanked.
I speculate it tanked as there were many people desperate to cash out their free ICP air drops, to a market that didn't have enough buying pressure...bummer.
So, fast forward and the last 2 months have been fantastic to trade. There is never a shortage of good set ups. One tip I will offer is DO NOT GO ALL IN.
A majority of wall street bets redditors regularly post their losses due to their crazy actions. Don't trade with enormous leverage.
Now, I see ICP/USD rising up to large levels. It'll be a long time, perhaps two years or so, until we hit 2000+ USD a coin. That's ok. I bought bitcoin in late 2018. I was happy selling earlier this year. You don't get rich overnight.
Look to my chart. You will see two fractal analyses. One, is the 4 hour chart. Two, are the large white numbers that signify the daily waves on a higher fractal.
On the 4 hour chart we are in the midst of a wave 2 correction. As one must trade what the market gives them, I never draw a conclusion as to where a "bottom" has occurred. Don't do that, you'll get wrecked.
BUT- as we have done a 61.8% correction (the 50.xx support level), a common retracement for wave 2, I am comfortable calling a probable bottom. Don't quote me as it being a "certain" bottom, it's only my speculation and may change.
The markers on the chart, showcasing my speculations of the future, are target prices. Wave 3, wave 4, and wave 5. We are currently in wave 2.
As of this writing, I assume we are in a subwave B of wave 2.
It could be a flat, expanded flat, or it could be a zig-zag. We may even enter a triangle. I do not know.
I see 50.XX as a launch pad for wave 3. That'll bring about some nice gains. Follow the price action closely now as we are entering a zone that'll provide fat price spikes.
Caveat, once again, the wave 2 may drop lower and I never advocate for a crazy buy in all at once. Am I buying? Right now I am swing trading.
SO- how long till we see them tendies? I don't know, I don't believe in time spirals. Only disciplined people checking the charts often stay on top of the game.
ICP is the coin that aims to blockchain-ize the current server infrastructure and get rid of our dependencies on Amazon, Google, Microsoft servers. If you're a coder, you know what I mean.
It uses its own network, not like Matic that piggybacks off of Ethereum.
Putting aside the aim of each project, ICP/USD has a very good set up on the horizon.
Long term, prices now are insanely cheap for what the fractals can deliver.
And in my humble opinion, ICP could experience ridiculous gains in a short period of time. Once we get into the daily fractal, perhaps next year, that's got the potential for over 2000 a coin and onward!
Disclaimer: this is my analysis and my own opinion. I do not recommend blindly following people's opinions. Always ensure you are doing your due diligence as a trader, whether you are a novice or a veteran.
I welcome others' analyses should they wish to share them.