Market Observation: Layer 1 coins have been performing well recently, with ATOM showing resilience. Support Area: ATOM is currently trading in a support zone, presenting a potential entry opportunity. BTC Influence: Considering BTC's potential downward movement, a tighter stop loss is recommended to mitigate risk. 📊 Trade Setup:
Entry: Ladder into a spot long trade in the $11.50 - $12.50 support area. Target: Take profit at resistance levels of $14.50 - $15.00 or $16.00 - $17.00. Stop Loss: Place a tight stop loss just below $11.00 to manage risk amid BTC's potential volatility. 🔍 Note: Monitor market conditions closely and adjust your strategy accordingly. Be prepared for fluctuations in BTC's price and its impact on ATOM. Consider setting trailing stops to protect profits.