The Trust Layer for Market Analysts

The analysis focuses on ICP/USDT, highlighting that the cryptocurrency recently formed an all-time low. The analyst points out a three-wave move up to a Fibonacci resistance zone starting at $9.772, characterizing it as a corrective bounce. Following this, a five-wave move down indicates downward pressure. The short-term bearish count, visualized as a 1-2-3-4-5 wave pattern, is invalidated if the market breaks above the swing high around $9.77, but it becomes less likely above $8.416, representing the 78.6% retracement level. A break below the wave two low at $2.77 will invalidate the orange count. If 3.66 is broken the orange count will become less likely.The last bounce from Monday's low also a three wave move. Target is 2.019.