Quick ATOM analysis. 1day Time Frame Firstly we note the MACD as we see a potential cross within the next few days. Rsi fell to 67.34, and we will keep paying attention to see if it climbs above 70%, which is considered bullish. BB%B suggests the width of the bands. As you can see, the BB may have widened too much. After the BB expands, we can see a scenario where price action takes us near the Middle Band (near $17 or below). We should cautiously approach shorting as we are on an uptrend, and this consolidation phase seems bullish. Best Wishes, HONEYITSGONE!
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That leverage hit hard though. Only up.... PNL's
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Cut 50% of position for profit @ $18.30 . Deleveraged , now working with a @ 5x perp contract. S/L for profit @ $18.75. Trying to take this position near range lows. Valhalla again or stop for profit seems like a good play.
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Beware of relief pump may happen on the H1
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Stopped for profit Idea still valid. Consider closing position or taking profit.
Trade closed: target reached
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We tapped near the middle band and positions should have been closed for a nice profit. Idea still valid for further downside. However the target has reached.
@MCripto, Possibly, However we do not want to be too predictive of this scenario as we should expect without expectations.
PolarHusk
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That is a good potential scenario. thanks
HONEYITSGONE
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@PolarHusk, I appreciate the feedback and follow! I have much to learn from you!
sh2baba01
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@HONEYITSGONE, I'm unable to send message...they said I need to have 5points
HONEYITSGONE
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@sh2baba01 I am out now, I took a quick look at Neo/USDT, and there is no justification too long here. A double top may be forming. I'll have a better look when I get home. Have a look at my other content until then.