ATOUSD trade ideas
ATOM Double BottomAtom has been off everyones radar for a while, its performance has been what we were used to in the last bull market.
Now the chart is speaking, we have a monthly double bottom and things are looking good though we are at a minor resistance, our next upside targets are shown at the fibs levels where we also have MA confluence.
Atom is a good project.
Atom usdtAtom will hit my resistance and I am currently 80 percent sure it will do so. People please long
📊#ATOM may drop according to the smiley face structure📉➡️This is a smiley face structure that I am very familiar with, so we set the market trap in advance and successfully hunted 200%+ yield.💥
Since we failed to break out of the resistance zone and formed a smiley bear structure, and also broke the uptrend line and inflection point, I judged that we would continue to move lower.📉
⚠️Note that if our short defense is breached, it means that the short structure is broken, which means that we may continue to move higher.📈
Let's see👀
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📊#ATOM short defense has been breached ❌double top has failed❌🧠It is a pity that the market did not develop in the expected direction, but chose to break the short defense point, which means that the short structure has been broken and will continue to be bullish in the later stage📈
Let's see if we can achieve our goal👀☕️
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📊#ATOM has a potential double-top structure, be careful do long🧠We have formed a double top bearish structure in the resistance zone, so it is not recommended that you continue to chase up, if the short defense point is broken, you can light position chase up.🐾
➡️If the bull defense point is broken, then we will continue to adjust with high probability.📉
Let's see👀
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COSMOSUSD Elliott wave intraday count 4H TFWatching for evidences wave ((2)) ended 6.772.
A clear break of 7.069 pivot will be a good evidence to continue up.
Also we may have another low if price break 6.722 as wave ((a)) has not reached 1:1 ratio with wave ((c)). If break it we are expecting to bounce into the 1:1 ratio ((a)) vs ((c)) where we have 0.764 fib retracement of wave 1 and the bottom line of the channel.
Future updates will be posted as updates to this count.
Daily intraday updates on 1H and 4H time frame, don`t miss them!!
Good luck!
Cosmos Under Bear Claw Plans Reversal?Long-Term Downtrend: ATOM is currently in a falling channel pattern.
50-day EMA Barrier: ATOM faces constant rejections from the 50-day EMA.
Price Target: The asset is eyeing the $6.50 mark.
Uptober Uncertainty: Despite high expectations, the market has been slow to rally.
Pattern of Lower Highs: The daily chart shows prominent lower high formations.
Double Top Formation: Peaks are forming at the declining 50-day EMA.
Today's Price: ATOM is trading at $6.626 with a -1.13% intraday move.
Death Cross: The 50 and 200-day EMAs indicate a long-term downtrend.
RSI Status: The daily RSI has crossed below the halfway line.
Bullish Reversal?: Chances are slim but a reversal from $6.40 is possible.
Dynamic Resistance: The 50-day EMA is a significant barrier.
Support Zones: Key support levels are at $6.25 and $6.
ATOM obstacles aheadHaving received over a 200% bounce of the it's previous floor, going from $5.54 in June 2022 to its top at almost $17.00 in September 2022, ATOM's price action has been bleeding out for over a year. From its past high last September, ATOM continues to make lower highs and lower lows. I think it is safe to say that ATOM faces many obstacles ahead with appreciating price action considering the fundamental issues regarding the greater crypto landscape and having recently been rejected off the 50 SMA using the daily time frame along with failing to break through ATOM's current trend line of resistance which has been holding strong since January.
A small positive is that the selling pressure represented on the lower section of the cart looks to be be weaker and weaker over the long term but that needs to be accompanied by buying pressure... so take that with a grain of salt.
The tech is GREAT and in that regards I am extremely bullish when it comes to the Cosmos ecosystem, just not so much the ATOM chart.
Happy trading and be safe !
ATOMUSD (4H) - Bearish reversalHi Traders
ATOMUSD (4H Timeframe)
Waiting for the downward break of 7.18 support level which will complete a bearish trend reversal pattern to go SHORT. Only the upward break of 7.51 would cancel the bearish scenario.
Trade details
Entry: 7.18
Stop loss: 7.51
Take profit 1: 6.98
Take profit 2: 6.65
Score: 7
Strategy: Bearish reversal
✴️ Cosmos Preparing For Major Bull-Market (Long-Term Chart)The bear market is over.
The consolidation phase that follows the bear market is almost ending.
✔️ Comos (ATOMUSD) is preparing for a major bull-market in the year 2024.
Look at this chart... The major action happening in 2021 and 2022.
All the growth that took place in 2021 was erased in 2022, then we get shy, small, little action in 2023... This is the boring phase.
After this boring phase we will get a new bull-market, something like 2021 but bigger because we have a higher low long-term.
➖ Notice the ATL, March 2020.
➖ Higher low, June 2022.
➖ Higher low again, September 2023.
And this is where this ends... Next the market is set to develop a bullish-trend and instead of higher lows we will have to start mapping higher highs... That's how it works.
Namaste.
Atom Buying zone and selling zoneIdentify Buying and Selling Zones:
Buying Zone: In an uptrend, the buying zone is typically near the Fibonacci retracement levels, especially around the 38.2% and 50% levels. Traders look for bullish price action signals (like candlestick patterns or positive momentum) in these zones as potential entry points for long (buy) positions.
Selling Zone: In a downtrend, the selling zone is usually near the Fibonacci retracement levels, particularly around the 38.2% and 50% levels. Traders seek bearish signals (such as bearish candlestick patterns or negative momentum) in these zones as potential entry points for short (sell) positions.