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ICPUSDT Bullish Reversal with Multiple Targets at Key Supply Zones
A long position on ICPUSDT is advised to be initiated from a price of $4.54, with a stop loss set at $4.372.
The analysis of the 2-hour timeframe indicates that the price broke a weak low, which absorbed liquidity. Following this movement, the price responded to a Fair Value Gap (FVG). Currently, a bullish impulse is forming from a demand zone, supported by increased buying volume that confirms the level's support.
A series of Change of Character (CHoCH) and Break of Structure (BOS) signals favor buyers, suggesting a potential reversal in trend. The confirmation of a trend reversal would occur if the price breaks through the supply zone.
Target Profit Levels:
1. TP1: $4.673 — liquidity area.
2. TP2: $4.771 — liquidity and the upper boundary of the Order Block (OB).
3. TP3: $5.185 — an extended target in the supply zone.
This analysis indicates a bullish outlook with key levels to watch for confirmation of trend reversal and profit-taking.
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AI Analysis
The current chart analysis of ICPUSDT on the 2-hour timeframe presents a classic setup for a potential bullish reversal. The price recently broke a weak low, which collected liquidity below that level...
AI Recommendation
Given the analysis, initiating a long position at $4.54 with a stop loss at $4.372 appears favorable. The risk-reward ratio is attractive, considering the targets at $4.673, $4.771, and ultimately $5....
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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