【$ICP Signal】Two-way Order Placement Game! 1H Triangle Convergence at the End, Waiting for Breakout!

$ICP The 1H timeframe is currently consolidating in a narrow triangle between 2.16-2.18, with prices close to the 1H EMA20 (2.1737) fluctuations, about to choose a direction. The 4H timeframe remains in a downtrend, but trading volume remains stable during price declines, and the funding rate is -0.1%, indicating a potential short squeeze rebound. The current price is indecisive; entering directly carries high risk. The best strategy is to place both-side orders and target a breakout!

🎯Direction: Watchful (Two-way Orders )

⚡Breakout Long Order: 2.185 (Reason: Break above the 1H triangle upper boundary and recent high )

⚡Pullback Long Order: 2.155 (Reason: Rebound to the previous low support zone on the 4H timeframe )

🛑Long Stop Loss: 2.135 (Reason: Break below recent 4H low, structure broken )

🚀Long Target 1: 2.230 (Reason: Resistance at 4H EMA20 )

🚀Long Target 2: 2.280 (Reason: 0.382 Fibonacci retracement of the previous decline )

🛡Trade Management:

- Position Size Recommendation: Light (Reason: Unclear direction, wait for confirmation )

- Execution Strategy: If any order is triggered, and the price reverses back to the entry price, exit immediately. After reaching Target 1, reduce position by 50%, and move the stop loss of the remaining position to the entry price.

Depth Logic: The order book shows significant buy-side depth (2.16-2.163), indicating potential support. The 1H RSI (46.21) is neutral, with room for upward correction. The key is whether open interest (OI) can expand in sync with a price breakout, which signals a true breakout. In a negative funding rate environment, even slight easing among bears can trigger a rapid short squeeze rebound.

View real-time market 👇 $ICP

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