Internet Computer Price Massive Support, Important Chart and Bitcoin Dominance

The purpose of this week’s blog is to get you to understand Icp’s price action for the last few months, going forward into the next phase of the Market. So we are going to talk about the price, coming down from November’s Ath to where we are now and focus on a few key points on the way down. Not only for Icp but also for Bitcoin as it leads the market. You will be able to see how this Btc price movement and support levels directly affect Icp at those levels in the same time frame. So I hope you learn something about the way Icp has moved down with Btc and how we will also go back up with Btc as well. We have held certain levels on the way down and those are going to be important in this blog.

I want to start with some dates and price levels. So the 1st dates we need to talk about are Jan 19th to May 7th 2022, as this was an important support level for Bitcoin as well as Icp at this time. We started Jan 19th with a Btc high of $42,378 while Icp sat at a Daily high of $29.60. This was a very important time as we didn’t know if the bull run was going to continue or not as Alts were still up pretty high at that point. This is when the market started to get shaky but Btc stayed within $42k to a low of $33k for that time period. Until around May 7th 2020 where Btc had a Low $30k and ended up losing this support level at that time. Icp also went down significantly from $29.60 on Jan 19th to $11.65 on May 7th.

This is where things start to take a turn for the worse. We ended up losing the $35k Btc support level and the Icp $25 support level by then. Now Icp had a brief stop at $16 which is going to be a bit of resistance in the future on the way back up to that $25 level we held back in Jan. But now from May 10th to June 9th was another really bad period for Icp as the price of Btc was going down and All Altcoins were free falling from the sell offs happening. Caused by various things happening in the world like inflation, Geo political tensions, rising gas prices, endless money printing as well as Exchanges tumbling and defaulting. But Icp stands tough like it’s big bro Btc. During this time period between May and June Icp went from $11.62 to almost half of the price at $6.29 while Bitcoin only went from $32,650 to $28,085 in the same time period.

Altcoins had dropped considerably, some over 99% at this time. This is where i took my final stand saying Icp will hold $5 strong as this a crucial psychological level that has since held firm. I couldn’t have been happier with the Icp project as Supernova was a massive success and brought almost 4k developers to Icp and About 400 projects all building and bringing value to the Internet Computer Blockchain. So From June 12th til July 11th Btc fell a staggering amount from $28,523 to $20,251. It had a low, of $17.5k while Icp Held its ground at this major $5 to $10 range. So Icp went from $6.43 to end up at $6.27 during the same time frame but went up to touch $10 once or twice. So even though Btc fell almost $10,000 Icp only lost a few cents as Icp is Changing Crypto while rebuilding the Internet on Web 3 and I want to be a part of telling people about this innovative Technology, while it is still early.

I want to point out that each of these time frames I have been talking about and the prices of Btc and Icp during those timeframes are all major areas of support on the way down and resistance on the way back up. But as you see Both cryptos held these certain levels of support and resistance at the same time as you will see in the screenshots that go with this blog. I also want to note each time these levels broke, within days it established a new support and resistance level for the next month or so. If you see most of these levels last around 28 days or 2 sets of around 28 days. Icp is sitting at $6.65 and Btc is sitting at $20,462 at the time of writing. Things are starting to look better as we just took the $6 support level back as we were under it for a few weeks it seemed. If we hold $6 then we can head to $8 resistance and turn it into support in the short term, then we are looking like we will continue.

Now in the long term we will see these major levels that were support on the way down turn into resistance on the way back up. The good thing is when the next bull run happens we will go up and test each and every one of these levels you see here and maybe even some more with Btc and Icp. The thing with the Btc levels is that they had hit those levels back in 2020 on the way up as resistance that were our support levels on the way down this Bear market. So you can see how these levels are very important when you reverse the market! So we will be doing Ta and watching for Indicators like the Rsi and Ema to agree with those levels and break them to Blast off. I personally can’t wait for the next Bull Run and Look forward to making alot of Money in Icp with all my Icp Renegades! Thank you for Reading please check back every week for a new blog Sunday or Monday!