$ATOM Is A Good Bet! Ranked 16th on Coinmarketcap!I don't know where the hell i've been, but seeing ATOM claiming it's position at 16th on Coinmarketcap is a jaw drop for me. How come something so new like this, acquiring big market capital. You can learn more about the project on their website.
Judging from the chart perspective, I love the mid-term double bottom pattern, which indicate, it will be more upside on the future as if we break the current all time high price. ATOM already has major supply on the circulating so I think it'll be safe if we just hold, but I'm a swing trader so, not gonna do it.
First TP, ATH.
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ATOMBTC
ATOMBTC BINANCEATOMBTC 4 HR Chart on Binance pattern isn't looking good. Window Oscillators MACD and BB aren't in agreement (BB is at the support level and MACD is going down)
Momentum of the price action is going down on 4 hr chart, with this MACD line is down and isn't in agreement with Price movement. Volume going down. It may indicate that selling pressure is going to start.
Currently, it is testing FIB retracements near at 23.6,38.2 & 50 % areas as shown in charts.
A couple of things can happen based on TA
It may reach TP1 target and bounce back to Minor support for testing or it may go further down to retest at the major support level in a couple of days based on selling pressure. Falling wedge happening currently, so the price can reach Tp1 if a breakout occurs.
It may test well at TP1 region and test TP2 and bounce back ( MACD isn't agreeing at this moment for this price action). Maybe FA can move price to TP2 area.
Based on the above analysis, if you want to invest in ATOM, set only for TP1 for short term and wait for price retracement and enter again for target TP2 based on the price momentum. Please note that I have seen many cases where oscillators will misguide and we may miss some major profits.
Please do your own research before investing in any crypto coin.
Please refer to below link for more information about MACD AND PRICE ACTION disagreement:
$ATOM Trying to gain momentum from support zone at 53k sats...$ATOM Trying to gain momentum from support zone at 53k sats...
Volume slowly rising
MACD about to bullcross and RSI rising
UCTS no showing signals yet..
Wait for more confirmation around volume and continuation on the next hours/days
#ATOM
Cosmos ATOM one of the most successful project on Binance, and this exchange list this project for free. Whose name speaks for itself and its potential for growth is enormous. After start trtading in exchange, the project fell in price and formed reversal pattern - falling wedge. Now formed a bullish triangle with a breakthrough potential up to the next level of fibonacci. 0.0007
ATOM looks ready to breakout! ATOM has been basing near this support zone for a few days now and looks like it might attempt another break of resistance
If successful, it could lead to a very quick move as we saw last time of over +40%
Breaking down from here could lead to a retest of the local bottom