Amazing example of a Trading Range following Wyckoff Schematic #2.
In an accumulation range there is a equilibrium of Sellers & Buyers causing price to move sideways but unknown to many the large operators are slowly absorbing all the Supply of the asset eventually as sellers become exhausted it pushes the asset into a Demand phase where price increases...
$ATOM/BTC I no longer think we are in a parallel channel on this bounce and making fractals inside it. Price is broadening but still forming fractals. Could break down here but I expect a larger head and shoulders to form upward along support here maybe dipping below occasionally. Trendlines show possible targets on the upside.
Finally started getting into the Cosmos ecosystem. Been so caught up with Sol, Avax, Ftm that I neglected this one. Better late than never though and this chart looks ready for breakout.
If BTC behaves, I'd expect ATOM to do well in the coming days and weeks. Fundamentals seem very strong, although I've still have a lot to learn about the different projects...
A few weeks ago I shared an idea before ATOM started booming.
''ATOMUSDT had a very nice pullback back to the previous ATHs and has now reclaimed a key support level . Support turned into resistance and back into support. When Cosmos launched it had a nice big correction vs USD & BTC which was needed as the project launched with a huge ROI as it was at least 2...
ATOM broke out from descending long term resistance line, and also broke out and closed a weekly master candle above the very long term resistance zone.
the min targets can be 13300 sats.
let's fly with ATOM to the moon🚀🚀
atom consolidating nicely
holding above the 100EMA
macd reset and looksgood to start a bullish move
rsi broken out of downtrend
btc price bounced off the .382 fib and looks like breaking out of the downtrend
fairly primed for a move to the upside