【$ICP Signal】Multiple long positions surge then retreat, pullback strategy for going long

$ICP Buy volume ratio 0.47, 1H funds show clear signs of active withdrawal, price has fallen from a high of 4.086 to around 3.75, the upper band of the 1H Bollinger Bands at 3.979 is effectively acting as resistance, trading volume is shrinking simultaneously, short-term momentum is weakening. The 4H MACD histogram is still expanding but at a slower rate, the overall bullish structure remains intact. RSI on 1H is 66.51, high but not overbought, still has potential for a second upward move.
🎯Direction: Long (pullback limit order)
⚡Entry/Limit order: 3.72 (recommended entry range between 3.176 - 3.729)
🛑Stop loss: 2.828
🚀Target 1: 3.871
🚀Target 2: 4.218
🛡️Trade management: Reduce 50% of position upon reaching Target 1, move stop loss to break-even; automatically exit if price falls back to entry level.
Depth logic: Funding rate at 0.0067% is normal, open interest remains stable with no abnormal fluctuations, the current pullback is short-term profit-taking, the 4H support EMA50 at 2.8424 is far from the current price, providing sufficient bullish safety margin. Personally inclined to wait for a pullback confirmation before entering, risk-reward ratio about 1:4, worth a shot.
View real-time market 👇 $ICP
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