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ATOM

Moment of truth for $ATOM$ATOM has been down trending for several weeks, forming a descending triangle. Now price reached support at $23.5 but everything is in $BTC hands. If you look at the RSI you can see a bullish divergence forming but this is not enough, waiting for more conformations. I will only go long after a bounce from support with bullish volume followed by a breakout of the triangle's resistance! I will only go short if price broke below support with huge selling volume: Be reactive not predictive :)
by dogofwallstreets
A bullish Ascending Triangle for ATOM?A little take on ATOM. Weekly got Charted here. It seems that ATOM could be moving within an Ascending Triangle. An Ascending Triangle is a "Bullish" continuation pattern, so this means if Price comes in, in an Uptrend there's a higher probability that it will break higher and vice versa. I did use the Heikin Ashi candle in this chart, since it gives you a clearer view on the current "Trend". Presently, it seems that the current Downtrend is weakening and that there's a Chance of a reversal, the MACD also do start to "Confirm" that. Also, the Fibonacci Golden Pocket got retested again, we have seen a beautiful bounce of that. Coming back to the Ascending Triangle, of course a breakout can occur way earlier than shown here, but usually price moves withing the pattern until the apex is reached. In that case, ATOM could range between 30-40$ for Weeks to come now until breaking higher. After a Breakout, preferably there's going to be a retest and a Bounce of the upper Trend line that got broken. Measured Target would be at 59.70$ KEEP IN MIND: The World is in a Volatile situation, so this always can turn to the opposite. If you like my Content, hit the 👍 and/or comment and make sure to follow. This Analysis is not intended to be investment advice. Always DYOR.
COINBASE:ATOMUSDLong
by blauersamt
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