The January 2022 pump was a scam to induce more liquidity below those lows. Now we see price went in to eat that liquidity and has aggressively moved up creating a Market Structure Shift. I believe post earnings we will see a rally to $9 which is around the level of weekly imbalance.
On the 15-minute chart, ATOM/USDT has formed a nice Cup-shaped base with constantly rising OBV showing a clear accumulation. It is now possibly forming the Handle part of the pattern. I would expect it to test the green support area before breaking out of the Handle. If it doesn't do that, then this pattern is invalid.
Already happened:
1. Nice cup-shaped...
Above is the 3-day chart for ADA/USDT pair. Will the price bounce off of the long-term SR-Flip line just like it did three times earlier? Or will we go down to test the $1 support zone which also happens to coincide with the approaching 200MA?
In any case, I'd place my bids from here down to $0.97.
Here is the same chart zoomed-in to the 12H timeframe. Look...
