Cosmos (ATOM): Take Some Profits, Buy the Consolidation

We are pleased to see our favorite altcoin, Cosmos (ATOM), is in the green today. Frequently, when you get "glad" about anything in markets, it's time to take profits.

Now may be good a time to take money off the table in Cosmos (ATOM). We think there is resistance near the 38% retracement of the most recent down move.

Bottom Line: Assuming the crypto market is not crashing, we think any dip in Cosmos (ATOM) is a buy for an eventual move to over 5000. If Bitcoin (BTC) continues to stagnate, we think Cosmos (ATOM) can benefit.