Cosmos (ATOM ) to $2.50

But first price action shall move to the 11-12 dollar resistance before the downtrend continues.

** trading opportunity **

On the above weekly chart pice action has confirmed a bear flag breakout. The flagpole measurement forecasts an eventual target of $2.50.

Meanwhile a breakout of RSI resistance prints with a weekly bullish engulfing candle. The weeks ahead shall likely print a strong upward move at first until resistance.

Is it possible this resistance test at $12 fails to hold? Sure.
Is it probable? No.

Ww

Type: Trade
Risk: <=6%
Timeframe: Long now this month until resistance
Return: 50% or thereabouts

Commentaire:

A move to resistance / $12 area next.

Commentaire:

Approaching resistance area.
Can the bulls push this $4billion batholith through resistance?

Transaction en cours:

Perfect rejection from resistance. The weekly candle that recently printed, do you know what it is called?

www.youtube.com/watch?v=CCzD3ONQ...

Weekly

Commentaire:

Price action must close above $10 by Monday to void this trade.

Commentaire:

Price action now must close a weekly candle this week or the next above $13 to void this idea.

Commentaire:

In the last update:

“Price action now must close a weekly candle this week or the next above $13 to void this idea.”

48hrs until that 2nd weekly candle close and price action struggles still to close above $13. Why?

Look left.. price action is at the scene of the crime, broken market structure. This is the reason for the resistance.

weekly

Transaction en cours:

Don't wish to be a Debbie Downer in a bull market, however as anticipated there are tokens that are not participating in this bull market, ATOM is one of them, just like MATIC amongst others.

On the 5-day chart below a significant bearish divergence has confirmed from broken market structure. Previously such strong bearish divergencies saw a 70% correction. Look left.

5-day

Transaction en cours:

Picking up speed... most recent support has confirmed as resistance.

4 day