Pullback in the short term for that wonderful project

ATOM (Cosmos) is a wonderful project, very promising.

I invested and staked a lot of ATOM, and I'm looking to buy more.

However, I think the price is a little bit expensive, and I'm looking for a reasonnable pullback to bounce on that :
- black trendline
- 0.382 fib level
- B point

Target is on charts.

I think this bearish xabcd will play out nicely !

Comment:

Please also be careful, lots of coin holders recently undelegated their ATOM and are currently in the process of being sent to exchange for dump (I assume)

Exemple:
www.mintscan.io/txs/...DBEEFF2923C24897848E (10000 ATOM)
www.mintscan.io/txs/...C8519D45B82455593BE1 (50000 ATOM)

I'm not going to list all of them, but trust me there's literally millions of dollars that are going to get dumped on the market.

Check this website, pick a big validator like "iqlusion" for example and looks at "Power Events" : www.mintscan.io/validators

So my advice is if the price of ATOM is rising in the next couple of weeks, be VERY wary that some big holder are going to dump on you and crash price, probably well below my price target.

Trade closed manually