SpartaBTC

ATOM / BTC Main trend. U-turn zone. My trade for a year

BINANCE:ATOMBTC   Cosmos / Bitcoin
One of the cryptocurrencies I call it is not a scam. Found this crypto nugget a little less than a year ago. All major price movements were taken at 70-80%. This can be seen in previous trading ideas posted on this site.

Also, this coin allows you to work thanks to margin trading in two directions. Other advantages of this coin and the pair in question are ideal technical price movements. The dynamics of price movements is comparable only to Litecoin. A very technical coin. Suitable for positional trading and accumulation of a large position.

At the moment, the "head and shoulders" model has been completely worked out; the price has reached the stop level that I indicated earlier. Potential reversal area. Take your time to enter. Because now is a situation of uncertainty. Enter a trend that will develop. Better to enter the market a little later, but with more confidence. Entering now is like playing in a casino. You may or may not be guessing. But to build a chart for the future, it would be more rational for the price to rise from this zone.

If this zone is confirmed and an upward movement starts from it, then the formation of an upward channel on a global scale of the main trend with a resistance target of + 190% will be confirmed.

If this support is broken and the downtrend continues, the first potential support is 0.00025, the second is 0.0002. This is 33%. I have shown on the chart potential first moves from the reversal zone.

It should be noted that the ATOM / USD pair is now in an upward channel, and the price has corrected to support. Likewise, the reversal zone.

Previous trading on this trading pair.
ATOM / BTC Upward trend 4 months. Channel. Analogy with LTC / USD


The beginning of a trend reversal


Almost all price movement of the downtrend was taken. About 50%.


Secondary downtrend reversal zone


The beginning of a new uptrend movement


Work in a local trend from reversal zones + 68% + 68% + 48%
The levels and zones of local reversals have worked out very clearly.


ATOM / BTC Uplink. U-turn zone.
This idea described the formation of a potential right shoulder and then the "Head and Shoulders" pattern itself in cases of non-confirmation of the uptrend line support.


+ 44% - working long from the reversal zone. Formation of the right shoulder. Then work short to the support line of the local uptrend line. It breaks out, the price falls to the specified support level . Profit shorting about + 40%. Complete formation of the "Head and Shoulders" figure.


In this trading idea, I have shown my work on this coin since December 2019. This is about 11 months.
You also need to understand that price movements are taken from 60% to 80% of the reversal zones indicated on the chart.

Any theory without practice is zero! Only your knowledge, modernized for the reality of the market, in practice can give a significant result in your work.
Comment: Short work + 10% from the reversal zone (breakout of the support level, confirmation of breakout after rollback). A falling wedge is forming. Work on the trend.
Trade closed: target reached: Local work. Since the last update of the idea from the indicated zone, there has been a reversal of the local trend to the mirror resistance level (former support) + 11.44%. The price stood at its borders for 4 days. Then a reversal and continuation of the downtrend at the level of 23.4. Local price stop zone. If the market allows and the price can be kept at this level, the local trend will reverse, and then the secondary and the main trend. If not, the price may drop another -5% to 13.41%.
Trade active
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Comments

great chart
+1 Reply
SpartaBTC Zivul33
@Zivul33, thanks
Reply
Yes, pretty obvious channel, hope it makes it to the top as well:

+1 Reply
SpartaBTC badbeatnuts
@badbeatnuts, Thanks for sharing. Yes, it looks bullish.
Reply
Great info and well thought out idea!
+1 Reply
SpartaBTC The_New_Disciple
Reply
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