A bullish Ascending Triangle for ATOM?
A little take on ATOM.
Weekly got Charted here.
It seems that ATOM could be moving within an Ascending Triangle. An Ascending Triangle is a "Bullish" continuation pattern, so this means if Price comes in, in an Uptrend there's a higher probability that it will break higher and vice versa.
I did use the Heikin Ashi candle in this chart, since it gives you a clearer view on the current "Trend". Presently, it seems that the current Downtrend is weakening and that there's a Chance of a reversal, the MACD also do start to "Confirm" that.
Also, the Fibonacci Golden Pocket got retested again, we have seen a beautiful bounce of that.
Coming back to the Ascending Triangle, of course a breakout can occur way earlier than shown here, but usually price moves withing the pattern until the apex is reached. In that case, ATOM could range between 30-40$ for Weeks to come now until breaking higher.
After a Breakout, preferably there's going to be a retest and a Bounce of the upper Trend line that got broken. Measured Target would be at 59.70$
KEEP IN MIND:
The World is in a Volatile situation, so this always can turn to the opposite.
If you like my Content, hit the 👍 and/or comment and make sure to follow.
This Analysis is not intended to be investment advice. Always DYOR.
Weekly got Charted here.
It seems that ATOM could be moving within an Ascending Triangle. An Ascending Triangle is a "Bullish" continuation pattern, so this means if Price comes in, in an Uptrend there's a higher probability that it will break higher and vice versa.
I did use the Heikin Ashi candle in this chart, since it gives you a clearer view on the current "Trend". Presently, it seems that the current Downtrend is weakening and that there's a Chance of a reversal, the MACD also do start to "Confirm" that.
Also, the Fibonacci Golden Pocket got retested again, we have seen a beautiful bounce of that.
Coming back to the Ascending Triangle, of course a breakout can occur way earlier than shown here, but usually price moves withing the pattern until the apex is reached. In that case, ATOM could range between 30-40$ for Weeks to come now until breaking higher.
After a Breakout, preferably there's going to be a retest and a Bounce of the upper Trend line that got broken. Measured Target would be at 59.70$
KEEP IN MIND:
The World is in a Volatile situation, so this always can turn to the opposite.
If you like my Content, hit the 👍 and/or comment and make sure to follow.
This Analysis is not intended to be investment advice. Always DYOR.
Note
Sorry for the spelling error on the chart.I meant to say: "MACD starts to Confirm the Trend as seen on the Heikin Ashi Candles."
Note
So, Atom faild to hold the Line. Sadly a Bullish MACD Cross did not happen to, just yet.
Web:
UNDER C.
Follow me on Twitter:
twitter.com/blauersamt_
UNDER C.
Follow me on Twitter:
twitter.com/blauersamt_
Web:
UNDER C.
Follow me on Twitter:
twitter.com/blauersamt_
UNDER C.
Follow me on Twitter:
twitter.com/blauersamt_
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.