Atom correction ahead
The reasons to be bearish on ATOMUSDT:
- The price filled fully a monthly and a weekly gap. After that, it got rejected.
The price left equal lows and tons of liquidity below.
We are still in a bear market + BTC is looking weak.
Atom is inflationary token, right now staking rewards are high, that means tokens are not staked. Hence, we witnessed a speculative growth from market manipulators to trigger sell stops and trap bulls.
On ATOMBTC chart we can see that the price rose up to the bearish OB and got rejected.
Note
Position closed with small profit
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.