Atlético de Madrid Fan Token, How To Read Charts & 726% PPA small tidbit about trendlines; you can draw a trendline by matching two or more points from any set of sessions. The trendline doesn't have to be necessarily the last session nor the lowest or highest, there can be middle trendlines, internal trendlines and so on. As long as the trendline is supported by multiple reactions it works. These are arbitrary lines and it is for you to decide. Play around with it and what works for you overtime and based on results is the right method. Nobody can tell you what is right or what is wrong or how it is done. Right or wrong can be decided objectively based on actual results.
Here we have Atlético de Madrid Fan Token (ATM) and guess what? I knew it would go up.
This chart has the same price patterns as all the other Altcoins charts, and this is great because the bullish breakout confirms what I've been saying and also what is coming to the rest of the Altcoins market.
After a major low on the 7th of April, in this case an All-Time Low, ATMUSDT started to recover and is now trading four weeks green. Today, the fourth week closes and there is a strong bullish breakout taking place.
The ATL is the bottom and from the bottom we grow.
The market is changing from a sideways market leading to a final flush/liquidity hunt event, to a new bull market growth phase.
Total growth since the bottom was hit now reaches more than 50% coupled with rising volume. This confirms that the downtrend is over, the bearish move is over, the correction is over the bull market is starting now or started 4 weeks ago when the bottom was hit.
When prices are at their lowest, that is when the market is the most bullish.
When prices are high, the potential for a correction or retrace becomes strong. That is why we sell when prices are high and buy when prices are low.
The bottom is confirmed through price action (when the market goes bullish and starts growing) and based on resistance and support. Now that ATMUSDT moved above the 3-Feb. low which happened a long lower wick we can say that the bullish bias is confirmed. This leaves behind a rounded bottom pattern or a v shaped bottom.
Another signal that I mention frequently is the size of the bearish waves.
Left side, the big wave is a bearish impulse or downtrend.
Right side, the small wave is a final market flush before bullish growth.
The first one is a market move, phase/cycle.
The second one is a market reaction.
All these signals are meant to confirm that the bottom is in. Once we have confirmation that the bottom is in we know the market will grow so the next step is to find some targets. I already explained how to extract those in my FISUSDT publication. You can go to @MasterAnanda and use the search filter to find this publication and learn more if you are interested.
Here, ATMUSDT has so much more to grow.
I am mapping just two targets on the chart because I have to write and do the numbers manually and it is too much do them all, plus, you only need to hold strong until prices are up. When prices are high, collect profits (sell) and move on.
The market will always offer endless opportunities, specially if you buy and sell at the right place.
» The first target goes for 438% which is an easy target (blue) and the second one for 726% (red). Please keep in mind that this trading pair/token can go much higher.
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