ATOMUSD trade ideas
COSMOSUSD Elliott wave intraday count 4H TFWatching for evidences wave ((2)) ended 6.772.
A clear break of 7.069 pivot will be a good evidence to continue up.
Also we may have another low if price break 6.722 as wave ((a)) has not reached 1:1 ratio with wave ((c)). If break it we are expecting to bounce into the 1:1 ratio ((a)) vs ((c)) where we have 0.764 fib retracement of wave 1 and the bottom line of the channel.
Future updates will be posted as updates to this count.
Daily intraday updates on 1H and 4H time frame, don`t miss them!!
Good luck!
Cosmos Under Bear Claw Plans Reversal?Long-Term Downtrend: ATOM is currently in a falling channel pattern.
50-day EMA Barrier: ATOM faces constant rejections from the 50-day EMA.
Price Target: The asset is eyeing the $6.50 mark.
Uptober Uncertainty: Despite high expectations, the market has been slow to rally.
Pattern of Lower Highs: The daily chart shows prominent lower high formations.
Double Top Formation: Peaks are forming at the declining 50-day EMA.
Today's Price: ATOM is trading at $6.626 with a -1.13% intraday move.
Death Cross: The 50 and 200-day EMAs indicate a long-term downtrend.
RSI Status: The daily RSI has crossed below the halfway line.
Bullish Reversal?: Chances are slim but a reversal from $6.40 is possible.
Dynamic Resistance: The 50-day EMA is a significant barrier.
Support Zones: Key support levels are at $6.25 and $6.
ATOM obstacles aheadHaving received over a 200% bounce of the it's previous floor, going from $5.54 in June 2022 to its top at almost $17.00 in September 2022, ATOM's price action has been bleeding out for over a year. From its past high last September, ATOM continues to make lower highs and lower lows. I think it is safe to say that ATOM faces many obstacles ahead with appreciating price action considering the fundamental issues regarding the greater crypto landscape and having recently been rejected off the 50 SMA using the daily time frame along with failing to break through ATOM's current trend line of resistance which has been holding strong since January.
A small positive is that the selling pressure represented on the lower section of the cart looks to be be weaker and weaker over the long term but that needs to be accompanied by buying pressure... so take that with a grain of salt.
The tech is GREAT and in that regards I am extremely bullish when it comes to the Cosmos ecosystem, just not so much the ATOM chart.
Happy trading and be safe !
ATOMUSD (4H) - Bearish reversalHi Traders
ATOMUSD (4H Timeframe)
Waiting for the downward break of 7.18 support level which will complete a bearish trend reversal pattern to go SHORT. Only the upward break of 7.51 would cancel the bearish scenario.
Trade details
Entry: 7.18
Stop loss: 7.51
Take profit 1: 6.98
Take profit 2: 6.65
Score: 7
Strategy: Bearish reversal
✴️ Cosmos Preparing For Major Bull-Market (Long-Term Chart)The bear market is over.
The consolidation phase that follows the bear market is almost ending.
✔️ Comos (ATOMUSD) is preparing for a major bull-market in the year 2024.
Look at this chart... The major action happening in 2021 and 2022.
All the growth that took place in 2021 was erased in 2022, then we get shy, small, little action in 2023... This is the boring phase.
After this boring phase we will get a new bull-market, something like 2021 but bigger because we have a higher low long-term.
➖ Notice the ATL, March 2020.
➖ Higher low, June 2022.
➖ Higher low again, September 2023.
And this is where this ends... Next the market is set to develop a bullish-trend and instead of higher lows we will have to start mapping higher highs... That's how it works.
Namaste.
Atom Buying zone and selling zoneIdentify Buying and Selling Zones:
Buying Zone: In an uptrend, the buying zone is typically near the Fibonacci retracement levels, especially around the 38.2% and 50% levels. Traders look for bullish price action signals (like candlestick patterns or positive momentum) in these zones as potential entry points for long (buy) positions.
Selling Zone: In a downtrend, the selling zone is usually near the Fibonacci retracement levels, particularly around the 38.2% and 50% levels. Traders seek bearish signals (such as bearish candlestick patterns or negative momentum) in these zones as potential entry points for short (sell) positions.
ATOMUSD longs finally?Good day traders,
Is it now time to buy ATOM? I think so, at least a couple of counts suggest so. The correction was almost twice longer by time (90d) then the first wave (53d) and quite furious (68.6%). At the first glance I thought this is going to be a simple zigzag, but it turned out to be a flat ABC with the C wave as ending diagonal, which might just have ended.
Now the real question is: "Has it finished?". Well we can only confirm it when the price crosses 12.94 which is already high enough from this point, or invalidate this count if we cross 10.23 which is closer.
Anyways this looks like a great entry for ride with such plesant targets, don't you think?
ATOMUSD (4H) - Bearish Wave LTFHi Traders
ATOMUSD (4H Timeframe)
A high probability, entry signal to go SHORT will be given with the downward break of 6.720 after the market found resistance at 6.920. Only the upward break of 6.920 would cancel the bearish scenario.
Trade details
Entry: 6.720
Stop loss: 6.920
Take profit 1: 6.449
Take profit 2: 6.158
Score: 8
Strategy: Bearish Wave LTF
Atom Analysis Run#CryptoWhale100Billion Alt Coin Analysis: Atom
My analysis shows that Atom may experience a bullish trend in the medium term. The current price is hovering around the support level of $7, and if it manages to hold this level, we can expect the price to rise to the next resistance level at $8 and potentially break out.
The RSI indicator is currently in the oversold region, indicating that Atom is [undervalued and may experience a bullish reversal soon. Additionally, the MACD indicator is showing signs of a bullish crossover, indicating that the momentum is shifting upward.
Strategy for Atom would be to buy at the current price or lower, hold on to the position, and consider adding more if the price breaks through the resistance level. If the price drops below the support level $7, it may be wise to consider buying or setting stop-loss orders.
Shoot me a message with your Technical Analysis to see your thoughts and trading strategies.
#CryptoWhale100Billion
Press The Thumbs Up and shoot me a message below with your ideas on where Alt may go next.
Thank you for the support!
Below are some previous chart links I've written in the past for reference:
ATOM - Higher Timeframe Overview ✨In the 2week chart of ATOM, we can see that we're in wave 2 correction, which is an ABC wave.
We are currently in wave B, which appears to be a complex correction. Expecting subwave C of wave B to move higher to complete the correction
See next post for lower timeframe overview.
Goodluck and as always, trade safe!
ATOM - Lower Timeframe Overview ✅Here we have the 3D chart. We could possibly be in a 335 flat correction.
This would make the next wave (wave C) 5 waves.
Trade idea:
- Entry on break of red trendline
- stops below the lows after trendline break
- Targets: 14, 16, taper
Goodluck and as always, trade safe!
Short rebound possible, but generally a bad outlookI have recently had more hopes with my last idea, but now it looks devastating. With political tensions going on and the SEC still fighting crypto and no good reasons for the price to climb, I see a trend moving to the ultimate bottom. I don't know where this is, but $6.5 does not seem out of reach.
All the potential this project has, but for now it seems it's moving down only.
We may see a potential price recovery to $9, but in the end the trend will continue until better news arrive.