The Trust Layer for Market Analysts

The analysis focuses on AVAXUSD. Currently, the market is in a pullback, labeled as wave B. It identifies a three-wave move to the upside from the June low. Technically speaking, one more high is possible, considering a fifth wave if the move to the upside extends. It notes a drawn-out correction and identifies a three-wave move down from the July high, followed by a five-wave move up, and then another three-wave move down. There's a possibility for it to find support and start a C wave up. The analyst considers this a diagonal pattern overall, calling it not trustworthy pattern. It suggests that the larger degree chart is not bullish, and the move to the upside from the swing low in April is considered an ABC structure, just a corrective rally, which ideally gets one more high to reach the blue target zone. The analyst needs to see a micro five-wave move up, something that gives an indication that the internal C-wave in wave five has started.