2026-01-16 05:29:30

ICP's recent trend appears somewhat bizarre. Although the price has rebounded to the previous supply zone, this rebound seems particularly "deliberate," as if subtly attracting bullish traders to enter. A close look at lower timeframes shows that the price was clearly rejected at higher levels, and buy orders are gradually being absorbed. This is not the first time it has failed in this area.

From a technical perspective, despite multiple tests of the previous high, the price has never stabilized, which usually indicates that resistance is quite effective. More concerning is that the overall trend lacks upward momentum—the volume simply doesn't support it. Frankly, this looks more like distribution rather than a signal to start a new upward trend. As long as this zone continues to suppress the price, it's hard to imagine ICP not seeking support levels downward again.

Looking at the broader market environment, although there has been some recent recovery, the Altcoin sector hasn't shown particularly strong independence. Many coins at key levels are signaling that a reversal isn't fully ready yet. Once the main market enters consolidation or a correction, these structurally weaker coins are likely to be the first to suffer.

Based on these judgments, my strategy is to gradually build short positions in the 4.25-4.40 range, with a stop-loss set at 4.60. The target is 4.00-3.70. Of course, if the trend unexpectedly stabilizes and breaks through 4.60, I will immediately admit defeat and exit—strictly adhering to stop-loss discipline. Otherwise, I will patiently hold and wait for the target levels. Trading is all about probabilities, and this time, the odds favor the bears more.

ICP2,28%

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StakeOrRegret

· 01-18 23:36

I'm very skeptical of the chip distribution strategy. I went short at 4.25, betting that this wave won't truly break through.

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HashBard

· 01-17 04:39

nah this icp chart is giving textbook distribution vibes... the whole "bounce to resistance then get rejected" narrative's been played out like three times already. volume's too weak to justify any real conviction here, which honestly tells the whole story right there

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LayoffMiner

· 01-17 00:25

The signal for distributing chips is so obvious, yet some still dare to chase longs? Wake up, everyone. --- If the volume doesn't cooperate, don't even think about going up. ICP's move this time is just a disguised way of cutting the leeks. --- The short position at 4.25 is already set, just waiting for the market to shake and drop. --- Always failing here, and still expecting it to break through? Dream on. --- Stop-loss discipline > probability-based strategies. That's the secret to lasting longer. --- Altcoins are generally weak; even if ICP is strong, it's useless. --- Looking at the chip distribution and wanting to buy the dip, all I can say is good luck. --- If you can't stand firm, look for support below. There's nothing wrong with this logic. --- If it can't break 4.60, it has to go down. Let's see 3.70. --- This time, the odds for the bears are indeed high. I've taken action.

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LiquidatedNotStirred

· 01-16 05:58

How many times have the chip distribution tricks been played? ICP this wave really has no imagination --- If it can't break 4.60, just wait for it to drop further. Volume can't be fooled --- Another awkward coin that keeps fluctuating at high levels, altcoin is like this now --- Oh wait, does this wave really have a higher probability of a bearish victory? All I see are fake lines --- If you can't stand firm, don't pretend anymore. Just come down, ICP --- Distributing chips so obviously, even fools can see through it --- Target of 4.00-3.70 is a bit bold. Aren't you afraid of a rebound? --- The key is that the volume is really a mess. Rebounds without volume are inherently unreliable --- The current state of the altcoin sector indeed looks unprepared for a reversal --- Good discipline with a 4.60 stop loss, but why does ICP keep bouncing around this area? --- Every time it tests the high point, it gets pushed down. Isn't this no longer accidental?

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RetiredMiner

· 01-16 05:50

The signal for distributing chips is so obvious, yet some people still dare to chase longs? I can't understand it. ICP's rebound this time is indeed too stiff, still weak compared to 3.70. Honestly, entering a short at 4.25 is quite reasonable, just worried that if it drops to 3.70, it will continue downward. With such poor volume, expecting a reversal? Better take a break first. The structure of this wave of altcoins is indeed terrible, wait for the market correction and then lie flat. If 4.60 is lost, it's time to run; strictly executing stop-loss is the key to survival. A rebound is just a signal for distribution; I've seen this routine too many times.

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FundingMartyr

· 01-16 05:35

The routine of distributing chips, here we go again... ICP's rebound is really annoying --- Refusing at high levels, buy orders being absorbed, do you still think it will rise? Wake up, everyone --- Lack of volume support is just a joke, the bearish advantage is fully leveraged --- I also have a bearish outlook, see you at 4.25 for deployment --- Always getting stuck here, what are you hoping for... --- I have to give a thumbs up to the discipline of stop-loss, it's definitely better than those stubbornly holding on --- Altcoin structure is so weak, it will suffer later --- The distribution signal is too obvious, even a fool can see it --- If it can't break 4.60, it will continue downward, have you learned probability? --- Repeated failures at previous highs, this time it's the bears' turn

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FalseProfitProphet

· 01-16 05:35

Distributing chips is quite on point, I also think this rebound is too fake. It's another classic high-level rejection, with volume not matching, basically a trap to lure in shorts. ICP always loves to mess around here, so annoying. I'm also optimistic about short positions, entering at 4.25 is fine, targeting 3.70 is definitely doable. But you need to watch the stop-loss, once it breaks 4.60, just run, don't be greedy. Altcoins really lack independence; when the main market coughs, they all suffer. This time is definitely a bear market, betting on this probability is still reasonable.

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