📉 ICP/USDT (1H) – Breakdown Retest Setup

Exchange: Binance – Perpetual Contract

Current Price: $5.462

Volume: 163.75K – Decreasing

Change: -1.07%

✅ Signal Type: Breakdown Retest (Short-Term Bearish Bias)

ICP recently lost momentum after a strong rally earlier in the week. Price action is showing signs of lower highs and has now settled into a consolidation phase near the $5.45 support. The recent rejection near $5.53 suggests bearish pressure and a possible continuation to the downside if $5.40 breaks.

🔍 Technical Highlights:

Structure: Rounded top with consistent lower highs

Breakdown Zone: $5.40–$5.42

Volume: Bearish volume is increasing on red candles

📊 Trade Setup:

🔴 Entry Zones:

Breakdown entry: Below $5.40

Retest entry: $5.42–$5.45 (if rejected again)

🔵 Stop-Loss:

Above $5.55 (recent local high)

🟢 Take Profit Targets:

TP1: $5.22

TP2: $5.05

TP3: $4.90

📈 Risk/Reward: 2.0 to 1 or better depending on entry zone

⚠️ Invalidation:

Bullish reversal if price closes above $5.60 with strong green volume

✅ Buy and Trade Here: $ICP