QuantCT

Long signal for ATOM/USDT

Long
QuantCT Updated   
BINANCE:ATOMUSDT   Cosmos / TetherUS
This technical analysis is based on the daily chart of ATOMUSDT on the Binance exchange. In this analysis, a price channel is drawn, and support and resistance levels are evaluated.

Price Channel Analysis:
  • The price is currently within a price channel ranging from 7.789 to 9.948 USDT.
  • The suggested entry point is around 8.416 USDT.

Entry and Exit Points:
  • Entry: 8.416 USDT
  • Take Profit: 9.948 USDT (18.22%)
  • Stop Loss: 7.789 USDT (7.44%)
  • R/R Ratio: 2.45

Conclusion:
This analysis suggests that by adhering to the specified take profit and stop loss levels, a successful trade can be achieved. The Reward/Risk Ratio for this trade is approximately 2.45, indicating a highly favorable risk-to-reward scenario. To manage risk effectively, it is recommended to strictly follow the stop loss level.
Trade closed: stop reached

Regards,
Amin Saqi
www.linkedin.com/in/aminsaqi