ICP Simple short setup failing to break resistance

2022년 7월 9일

Simple short setup on ICP. It has been in a long downtrend for a considerably amount of time as it is a poor fundamental crypto. Combined with market conditions, the recent increase in price action is unsual, leading me to believe it is weak and will fall easily on the next BTC down day.

Setup presented as this looks to be reaching resistance, which was previous support. Entered short, will hold for a long time as this could be going way below 6 with prolonged bad market conditions.