Cosmos / Bitcoin

ATOM ANALYSIS

ATOM


ATOM has had a significant run recently and followed a powerful positive trend upward. ATOM has now reached overbought on the daily RSI as well as on the STOCH. There is a bearish divergence on both sides and I do expect a further retrace here. The top of ATOM at 5920 seems to be a clear top as it hit daily resistance zone. I would exit any trade here and wait for the fall to the trend line. Considering the current layout, I expect the trend to break upon this following touch and a head back towards the yellow zone (possible buy entry) which would be just below the 50/200 MA and touch to the 100 MA. This should turn to a temporary support and provide a perfect bounce. Upon the confirmed reversal here look for a push back to the trend and daily resistance block above 5200 sats.

Possible Entries: 3750-3900 sats

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