ATOM ANALYSIS:
ATOM popped the rising wedge and confirmed a break downwards from the current point. In USD terms ATOM looks vulnerable to drop back to entry zone and 200MA temporary support. The overall market still in long term bullish, and staying above the 200MA is probable therefore I do expect a bounce off top green box. The short opportunity is present to target the support at $4.00, and T2 at $3.70. Once this zone is breached it is a good spot to enter long, given a confirmed daily reversal candle. RSI and Stoch are both neutral, and once last drop would be a perfect shake out before another run up. The confirmed support at the entry zone would also confirm the crypto bull run is here to stay. Look for a hold at 3.70-4.00.
Short Entries: 4.25
ATOM popped the rising wedge and confirmed a break downwards from the current point. In USD terms ATOM looks vulnerable to drop back to entry zone and 200MA temporary support. The overall market still in long term bullish, and staying above the 200MA is probable therefore I do expect a bounce off top green box. The short opportunity is present to target the support at $4.00, and T2 at $3.70. Once this zone is breached it is a good spot to enter long, given a confirmed daily reversal candle. RSI and Stoch are both neutral, and once last drop would be a perfect shake out before another run up. The confirmed support at the entry zone would also confirm the crypto bull run is here to stay. Look for a hold at 3.70-4.00.
Short Entries: 4.25