$ICP - 1W - Review

A look at the global picture:

The first thing that catches my eye when looking at the chart is that the asset has come out of the long accumulation zone of the big green candle upwards.

The second accompanying growth factor is growing volumes.

The third observation is the flag formation. A flag is often formed before the final stage of growth, in case of its successful upward breakout.

What can be said by looking at this picture?

Spreading the Fibonacci grid, we can assume that in case of a breakdown of the figure, the price can go to 48$.

But in case of a downside breakdown, I would expect the price to approach the $7 area, which is the 0.5 Fibo level.

This is the zone where I would consider additional buying for the long term.

In any case, in the global picture, the growth potential is real and by analyzing it yourself (preferably with a few confirmations of your theory) you can make some investment decisions.

Remember that the more potential confirmations of your vision, the more likely the situation will work out.

In the market we always work with probabilities, for this purpose technical analysis and understanding of people's psychology will help us.