ATOM / BTC
Nice pump after reaching new low against BTC pair
It already broke long downtrend falling wedge
Now try to breakout and flip strong weekly resistance into support .. BTC Dom in decrease can help the bull
you can accumulate atom after breakout of this resistance
💎Technical Analysis Summary💎
-Cosmos is trying to form an inverted H&S pattern
-The key point to trade this setup is to wait for the neckline break
-Buying above the key resistance will confirm the reversal pattern
-This will also ensure that the buyers have started entering the market
-The upside potential is up to 6200s sat or higher
-Cosmos is now testing previous support and resistance area
-If ATOM can hold this area of support for a few days
-There is a big chance it will bounce up to 6100 sat
-But everything depends on what will Bitcoin's faith this week
-Be careful, trading during this risky environment is very dangerous
-Use proper stop loss level and exercise correct...
-The price has dropped over -36% from the High at 4950 sat range
-ATOM may have found support at previous key areas on 3229 sat
-If this level will hold for the next 5 days or so
-It will likely to go up and retest the 3897 region
-The 3800 regions if the new potential area of rejection
-Bearish scenario, break below 3200 will lead to Swing Low retest
ATOM/BTC is forming a BULLISH DOUBLE BOTTOM !
There is also news at the end of this month.
Let's see if ATOM will make a move..
BTC must behave for this pattern to play out..
Trade safe my friends...
-starting to break upward this ascending triangle
-if the daily candle closes bullish
-there is a high probability we will see an uptrend continuation
-upside target is up to 5.1s
-stoploss is placed below 2.7s