CryptoSlackers

Strongly Considering a Cosmos (ATOM) Buy | ATOM/BTC

Long
BINANCE:ATOMBTC   Cosmos / Bitcoin
From a technical analysis perspective alone, Cosmos (ATOM) is grabbing my attention. That said, as an investor who values long-term growth over short-term trades, technical analysis alone doesn't cut it. I'll be conducting a round of fundamental analysis on Cosmos to determine whether or not it deserves a place in my portfolio in the coming months.

As you can see, ATOM has made two very strong moves against Bitcoin in the last year and a half, gaining 265% in the first move and 200% in the second move. Depending on how fast it occurs, a similar move would result in a 190% gain for ATOM.

What I'd like to see before making a purchase is a strong, weekly green candle or a double bottom on the support trendline, follwoed by a strong weekly candle. These strong moves against Bitcoin show a lack of correlation with Bitcoin , which makes this an even more attractive altcoin asset. (Diversifying with uncorrelated assets is key to portfolio stability).

For me, executing this purchase is pending a strong weekly candle (or other strong sign of reversal) as well as a thorough investigation of Cosmos from a fundamental standpoint.

I'll be posting my fundamental analysis in the CryptoSlackers group chat (head over to cryptoslackers.com to join for free), as well as on the CryptoSlackers YouTube channel.

#ATOM #COSMOS #ATOMBTC

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