ICP Price Analysis Internet Computer + Astrology

ICP is showing signs of strength after a long downtrend, but we need to watch critical levels closely to confirm a bullish reversal.

Today, we're looking at the ICP chart, and we're also going to be looking at astrology because that's what we do on this channel. It's Crypto Astro, which stands for crypto and astrology.

First, we haven't looked at ICP in a long time. I was kind of waiting out this long downtrend and then sideways action, and I was waiting until it shows some signs of strength, which it is now. If we zoom out a little bit, we can see this nice trend line. We have one, two, three hits, and we could bounce off of it again. So, that's going to be a pretty critical level around $7.42. We need to hold that ideally, but so far, so good; it's looking pretty good.

I must emphasize that this is Crypto Astro, but none of this content is financial or investment advice. This content is intended for entertainment and informational purposes only.

Now, let's look at the weekly chart. The good news is that in the past week, we got this nice candle right here. We went all the way up to $10, and then we closed the week above this 21 SMA line. That yellow line is pretty critical; if you look historically, once we busted through that and used it as support back in November of last year, we went off on a tear. However, there is also potential for a fake-out, like in January, where we stayed above there for a few months and then fell back through. But I think that's a little bit less likely.

Next, let's look at the daily chart. We are falling a bit down. If we take the 50% level from this peak down to the bottom, the 50% level is at $8.40. We just fell below that, so we want to get back above it. We need to get back above that 50% level; perhaps we could bounce off of here and stair-step back upwards. This is going to be a very important level for the short term at $8.40.

Now, let's also look at the monthly chart. In the previous month, we went past the 21 SMA, this yellow moving average, but then, unfortunately, we fell back just below it. However, this is overall a bullish candle. In fact, this green candle is bigger than the previous month's red candle, so that's looking good.

Additionally, I wanted to look at the three-month chart because this is interesting. This is really zooming out to a macro level. From July all the way to October, we went all the way up to $11 and then down to $5.80, and that all got bought up. We closed at around $9, which is above where we're at right now. That's overall bullish; the fact that we went all the way down to $5.80 and that got bought up pretty aggressively over the last three months is looking pretty good.

The only thing is that the volume is going down a little bit, which is a minor concern. If we look at the monthly volume, it's been going down, except for right here in July. We want to see a surge in volume to show that any of these pumps are sustainable. Overall, the volume has been going down, and we haven't seen a major pump in volume in a long time, ever since the peak of March. So, we're still waiting on that, and we're still not out of the woods yet, that's for sure.

=> 00:05:38

We're on the brink of potential change; October could be the month ICP finally sees a surge, but we need the broader market to break out first.

Now, let's look at the astrology, which is really interesting. What I do is find the Genesis block, the birthplace, birth time, and birth city of the ICP chart. This is what I found: May 16th, 2021.

Then, I look at what transits are hitting this chart. The transits, shown on the outside, represent where the planets are in the sky right now, making specific aspects with the birth chart in the middle.

If we look at this throughout time, in October, these are the transits that are hitting the ICP chart. The first planet here is Uranus, which is trining the ICP Pluto, and that is a positive aspect. The trines are positive, and we're getting a direct hit on October 8th, which is really good and bullish. Additionally, we have the Sun trining the ICP Venus on the second, and to make it even better, we're getting Uranus conjuncting the ICP Sun. This could be really bullish and represents going through major changes and challenging new events. Overall, Uranus is the planet of cryptocurrency, technology, and innovation, which is very related to ICP as an innovative technology.

We are also getting a direct hit on October 27th, which is also very positive. These aspects are already in effect; they're in orb. Furthermore, we're getting Saturn trining the ICP Mars, which brings very powerful and ambitious energy. This is very positive because it's making that positive trine on the fourth, happening really within less than 48 hours, United States time. So, three very bullish transits this month are noteworthy.

If there's ever a time that ICP is going to get a pump, it certainly could be this month. However, the only problem is the macro environment. For example, if we look at the Russell 2000, it still has not broken out into an all-time high. Historically, the Russell has broken out into an all-time high every time we go off on a mega bull run in crypto, where Bitcoin, Ethereum, and altcoins all hit their banana zone and reach all-time highs. The Russell's failure to break out is arguably why crypto has not gone on a mega bull run. We do have the Dow Jones breaking out and the S&P 500, but not the Russell 2000, and also not the NASDAQ. Technology stocks are holding back right now, so we need to see a breakout to gain further momentum, particularly for crypto and ICP.

=> 00:10:21

Prepare for peak volatility this October; it could be your chance to buy the dip.

Basically, we are headed into a peak time of volatility around mid-October, and it will still be pretty high through the end of October before it starts falling in November and into December. Peak volatility can mean surprise world events or major dumps and pumps. Typically, low equity volatility occurs on the 20th of July and runs higher into early to mid-October. Don't forget, stocks crash in recessions. There is a possibility of a big correction this month, honestly, or next month, but it's looking most likely this month. So, be aware of that. Personally, I'm planning on buying that dump if it happens.

Another interesting chart here is the S&P 500 election season pattern. From everything I've studied in the last seven years regarding the markets and crypto, the S&P 500 has a major impact on crypto. That's why I'm looking at this. If we follow the Gold Line, where the S&P 500 went down in April and up in May, which is what we did on this pink line representing the current year, we might see a dump in October heading into November. We've had a little bit of a dump, but we haven't fully seen that yet. If it follows the green or the red line, then we're really in the clear; it would just be up. However, the black, blue, and especially the gold lines are certainly possible. This is especially true because we might not get the green line since we don't have a sitting president running this year because Biden stepped out. The red line is possible, but the fact that Biden's not running gives a little less hope for that.

We have some positive astrology and some interesting trends on the three-month outlook, which is pretty bullish. There has been a lot of buying action here, and on the weekly chart, we have a nice weekly candle closing above the 21 SMA. However, we might have to wait in the next week to see if we are going to just go back down. If that's going to be a rejection off of that, that would be a bit more bearish. We might have to hang out here for more time, which is certainly possible. If we get a correction in October, that could bring us down even further, but I would consider that an incredible buying opportunity.

I personally have nibbled at this and do think this will be a good investment this time around. I believe it, but this is not financial advice; there are no guarantees in this crypto game. I've been studying ICP (Internet Computer) for years and I'm very impressed with the technology; I think it has a great use case as well.