📈📊 #ChartPattern Alert! 📈📊 📈 Falling Wedge 📈📈 What is a Falling Wedge? The Falling Wedge is a bullish chart pattern characterized by two converging trendlines, with the lower trendline sloping upward more than the upper trendline. It typically signals a potential bullish reversal, with the price likely to break upward after the wedge pattern.
📈 How to Identify:
Draw a trendline connecting at least two higher highs (upper trendline).
Draw another trendline connecting at least two higher lows (lower trendline).
📈 What it Signals: The Falling Wedge suggests a potential bullish reversal, with buyers gaining strength as the price reaches higher lows within the wedge. It often forms during downtrends and can precede a significant price move to the upside.
📈 Trade Strategy:
Consider buying when the price breaks above the upper trendline of the Falling Wedge.
Set profit targets based on the pattern's height added to the breakout point.
Implement a stop-loss to manage risk in case of a false breakout.
Remember to validate your analysis with other technical indicators and conduct thorough research before making any trading decisions. Happy charting and trading! 📈💹
ATOMUSDT trade ideas
ATOM/USDT potential upward shift? 👀 🚀 cosmosToday Analysis💎Paradisers, gear up for a thrilling opportunity with ATOMUSDT! Post its downward liquidity grab, it's now firmly anchored at a pivotal support, hinting at a potential bullish surge.
💎In our prior observations, ATOMUSDT, after setting equal highs, embarked on a significant downward journey. Currently, it's showcasing robust momentum above this key support. We're confident that there's a strong chance it will challenge the resistance level once again.
💎An additional factor bolstering this outlook is the pronounced volume indicated by the VRVP, which augments the bullish sentiment. However, given the prevailing market uncertainties, should the price dip below the 6.713 mark, be prepared for a potential descent to the subsequent support level.
💎Remember to employ prudent trading strategies and use proper stop-loss measures! Stay alert to market movements and look forward to more insights
ATOMUSDTATOMUSDT is in strong bullish trend.
As the market is consistently printing new HHs and HLs.
currently the market is retracing a bit after last HH, which is also the 50% fib retracement level and local support as well. if the market successfully sustain this bullish confluence the next leg high could be 7.5.
Expect ATOM to ralley upon elliot wave structureWe do expect ATOM to ralley after hit a perfect correctional structure upon its first impulse wave. On the bigger timeframes we do see a diagonal wave ((1)) forming wich was corrected towards the 6.60$ area. This area has been tested and we saw a significant impulse to the upside. as time of writing, we do expect to continue this rally
Primary targets are 18$ and futher.
ATOMUSDTThis is a 1D frame analysis for ATOMUSDT Our support zone as you can see has supported the price multiple times and has been able to make a good climb, currently after the price hit it was able to move up and is currently in a position to make further progress upwards. Our resistance zones can be a good place for taking profits. And if it breaks below the support line it can see lower numbers but that is of a low probability and we are looking at a bullish scenario.
ATOM/USDT Review Chart Hello everyone, I invite you to review the ATOM chart in pair with USDT. First, we will use the blue lines to mark the downward trend channel in which the price moves in the upper range.
Going further, we can move on to marking support areas when we start a larger correction. And here you can see that the price remains at the support zone from $7.08 to $6.09, but if we fall lower, the next support zone starts at $5.10 and ends at $3.70.
Looking the other way, we see that the price currently does not have the strength to break the resistance at $7.90, but when it does, it will move towards the first resistance zone from $8.93 to $9.76, and then towards the second zone from $10.59 to $11.76, then we have strong resistance at $13.25.
Please look at the CHOP index, which indicates that we are quickly regaining energy for a new move, on the RSI we are in the process of recovery, which creates room for new increases, but the STOCH indicator shows that the dynamic movement of energy gives a very small price increase on the chart, which may translate into price recovery again.