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ICPUSD Inverse Head and Shoulders targeting 17.800

Internet Computer (ICPUSD) is rebounding aggressively for the second straight day on the 1D MA50 (blue trend-line). The price is about to complete an Inverse Head and Shoulders (IH&S) pattern. The technical target for such patterns, that are typically formed on market bottoms, is the 2.0 Fibonacci extension from the neckline's Resistance. That is at 17.800, just shy off Resistance 3 and that is our long-term target.

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