WedgePattern
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ICP Forms Bearish Wedge: Breakdown Target at $3.5**
#BearishAlert #BearishWedge #WedgePattern #CryptoMarketSentimentđŹđđ #BEARISHđ
ICP (Internet Computer Protocol) has now formed a bearish symmetrical wedge after previously hitting a head and shoulders pattern's target. Statistically, this wedge is a bearish indicator, but patterns aren't always 100% reliable.
If the wedge breaks down, the measured move suggests a potential drop to around $3.5, based on the height of the wedge.
At its current price level of approximately $4.5, this would represent a significant decline. Historically, symmetrical wedges tend to break downward 60-70% of the time in bearish markets, making this a crucial pattern to watch.
Traders should exercise caution, as a failed breakout could lead to further losses. Keep an eye on volume and market sentiment to gauge the next move.
#BearishAlert #BearishWedge #WedgePattern #CryptoMarketSentimentđŹđđ #BEARISHđ
ICP (Internet Computer Protocol) has now formed a bearish symmetrical wedge after previously hitting a head and shoulders pattern's target. Statistically, this wedge is a bearish indicator, but patterns aren't always 100% reliable.
If the wedge breaks down, the measured move suggests a potential drop to around $3.5, based on the height of the wedge.
At its current price level of approximately $4.5, this would represent a significant decline. Historically, symmetrical wedges tend to break downward 60-70% of the time in bearish markets, making this a crucial pattern to watch.
Traders should exercise caution, as a failed breakout could lead to further losses. Keep an eye on volume and market sentiment to gauge the next move.
#Bitcoin hourly Chart Analysis
$BTC has been moving on #WedgePattern since last one week, after break-out New All Time High of 2023 on 24 Nov. at $38k for the first time.
#BTC now completed the previous pattern on #BroadeningWedge Pattern and Retested again $38k for the second time on 29 Nov. and now started movement on #FallingWedge Pattern.
Which is clearly showing that soon the next target will break out of $38k and go towards $40k, from where its next movement will be to break out in December soon, after $40k-45k markup of 2023 with All Time High markup with a HYIP of Pumping and after Dumping probably Towards $35k - 33k..!
Always DYOR before investing in Crypto Currency and Trade Wisely by using StopLoss at this high level of volatile situations of $BTC
$BTC has been moving on #WedgePattern since last one week, after break-out New All Time High of 2023 on 24 Nov. at $38k for the first time.
#BTC now completed the previous pattern on #BroadeningWedge Pattern and Retested again $38k for the second time on 29 Nov. and now started movement on #FallingWedge Pattern.
Which is clearly showing that soon the next target will break out of $38k and go towards $40k, from where its next movement will be to break out in December soon, after $40k-45k markup of 2023 with All Time High markup with a HYIP of Pumping and after Dumping probably Towards $35k - 33k..!
Always DYOR before investing in Crypto Currency and Trade Wisely by using StopLoss at this high level of volatile situations of $BTC
