$ICP Identifying an ICP Bearish Flag
A bearish flag pattern on Internet Computer's (ICP) chart is a concerning continuation signal, indicating a high probability that an existing downtrend will resume after a brief consolidation period.
This pattern forms after a sharp, vertical price decline, which creates the flagpole. The subsequent consolidation phase trends slightly upward or sideways within parallel channels, reflecting weak and temporary buying pressure. A critical hallmark is declining trading volume during this consolidation.
The bearish outlook is confirmed when ICP's price breaks down decisively below the flag's lower support trendline. This breakdown, especially on rising volume, projects a further decline approximately equal to the height of the initial flagpole.
Ultimately, this pattern warns that the underlying selling momentum remains dominant and is merely gathering force for the next leg down.$PIPPIN $POWER
