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ICP — Identifying the Next High-Probability Long Opportunity

ICP had a great start to November, rallying over +250% in just 8 days before topping out just below the 0.618 Fibonacci retracement (~$10), right at the $3B MC resistance.

Over the past 5 days, ICP has retraced -42% from the high. The key question now: where is the next high-probability long opportunity?

Key Confluences around the $5.5 Zone

One level that stands out strongly is the $5.5 zone, where several major supports align:

0.618 Fib retracement of the entire +250% rally
0.85 Fib retracement of the smaller internal wave aligns right with the major 0.618 level
Anchored VWAP (280 day) clustering right around $5.5, adding volume-weighted support
Quarterly VWAP currently sits near $5.62
Daily 21 EMA at $5.45
Weekly 21 EMA/SMA both at around $5
$5.5 = $3B market cap
Point of Control (POC) of the past ~280 days sits around $4.9, marking it as the final major support layer below

🟢 Trade Setup Plan

Entry Zone: $5.6 – $5.0
Stop-Loss: Below POC

Targets:

TP1: $6.0
TP2: $6.9 (VWAP resistance / 0.382 Fib)
TP3: 0.618 FR
Risk/Reward: 1:2+, depending on entry precision

🔍 Indicators used

Multi Timeframe 8x MA Support Resistance Zones [SiDec] → to identify support and resistance zones such as the daily/weekly 21 EMA/SMA.

➡️ Available for free. You can find it on my profile under “Scripts” and apply it directly to your charts for extra confluence when planning your trades.

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VWAP indicator in development: