ATOM forming a textbook falling wedge at the summer 2021 range lows. Two scenarios:
(1) Breakout to the upside towards $12-15 resistance pretty soon
(2) Brief breakdown below wedge (stop hunt) and swing around towards $12-15 shortly after
Zoom out and keep the big picture in mind. The entire market is very extended to the downside in the near-term. A bear market rally, at the very least, should be expected. Inverting the chart can give you perspective as well.
(1) Breakout to the upside towards $12-15 resistance pretty soon
(2) Brief breakdown below wedge (stop hunt) and swing around towards $12-15 shortly after
Zoom out and keep the big picture in mind. The entire market is very extended to the downside in the near-term. A bear market rally, at the very least, should be expected. Inverting the chart can give you perspective as well.