$ICP /USDT – Short Setup (1H)

Market Structure:

Price just printed a sharp impulsive pump into the $3.40–3.50 resistance zone, followed by immediate rejection and bearish follow-through. This move looks like liquidity grab / exhaustion rather than sustainable continuation.

Bias: Bearish (Short)

Entry Zone:

$3.30 – $3.38 (retest / lower high zone)

Targets:

TP1: $3.05

TP2: $2.85

TP3: $2.60 (major liquidity + prior base)

Stop Loss:

Above $3.55 (clear invalidation above rejection high)

Confluence:

Strong rejection wick at local high

Overextended bullish candle followed by red continuation

Price trading below short-term structure

Clear liquidity resting below $3.00 & $2.80

Summary:

As long as ICP fails to reclaim $3.50, rallies are sell opportunities. Expect a mean reversion move back into the $2.80–$2.60 demand zone.

⚠️ Wait for confirmation on lower timeframes if entering aggressively.