blauersamt

A "Bull" Run for ATOM?

Long
COINBASE:ATOMUSD   ATOM/USD
There are a few Signs that ATOM is set for a new Rally in the coming Weeks. Is a new ATH in sight? Maybe!

ATOM did a perfect and successful bounce on the Fib. Golden Pocket @ 0.65 / 20.90$. The Golden Pocket often turned out to be a significant Level of Support or Resistance. As seen here, it held support two times, with a strong bounce back on the second test.

The Heikin Ashi candles are set for a Trend reversal, if you take a look at the MACD which is also reversing, an Impulsive move is on the Edge.

Keep in Mind, that the Altcoins still are very correlated to Bitcoin , and Bitcoin itself to some major Indexes like the DJI or SPX . If these Markets start to Correct, most likely ATOM will do the same. An entry can be searched after the MACD crossed Bullish and the Heikin Ashi Candles still showing an Uptrend.




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Comment:
The trend still looks very promising. The Heiken Ashi Candles start to have, at least for now, no shadows to the Downside, which indicates stronger Momentum to the Upside. The MACD is also rising, a Bullish Cross could appear soon and take the Price of ATOM significantly higher, if I had to predict I would say ATOM can reach 65-75$ in the coming 7-9 Weeks under the condition that the overall Markets do well.
Comment: Atom still looks very promising.
Comment: The recent activities in the markets blocked Atom from taking off as well, although it has to be said, that Atom and the whole Cosmos Eco did fairly well compare to other coins' and ecosystems. If the Markets to start to reverse now, Atom will do so too.


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