【$ICP Signal】Short orders: re-enter after the rebound reaches the resistance zone

$ICP Negative fee rate -0.0034%, OI stable, buy depth 0.94, selling pressure slightly stronger. 1H MACD shows a death cross, but the histogram bars narrow, and the price is ranging narrowly between the middle and lower bands of Bollinger; 4H Bollinger bands are closing, with the lower band at 2.3873 providing short-term support. The current price 2.402 is too close to support, so the risk-reward ratio is not ideal—wait to place the short after the rebound above 2.44.
🎯 Direction: Short (place order)
⚡ Entry/Order: 2.44 - 2.45 (recommended within this range)
🛑 Stop loss: 2.485
🚀 Target 1: 2.426
🚀 Target 2: 2.407
🛡️ Trade management: - Execute the strategy: after reaching Target 1, reduce position size by 50%, and move the stop loss to the entry price (break-even). If the price rebounds and breaks through the stop loss, exit decisively, keep the principal, and wait for the next opportunity.
Depth logic: 4H MACD bearish momentum has not yet exhausted, but 1H RSI at 42.7 is neutral to slightly low; a rebound near EMA20/50 (2.41-2.43) will face selling pressure. The negative fee rate suggests that short trades are crowded, and a rebound may trigger a short squeeze, but the current structure is more suitable for high short positioning.
View real-time market 👇 $ICP
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