ATOM is an alt that I have high expectations for.
From a 4h perspective, we can see the short term price is still very bearish.
This is confirmed by trading under the moving averages, which indicates that the sellers are in control.
The great news about this is that the price doesn't stay long UNDER the moving averages in the 4h. From the chart below, we see a very evident bearish trend - the price STAYS under the moving averages, with occasional, random wicks above and to the upper purple (200d MA).
After the bottom, marked the "BIG TURNAROUND", we see the price trading mostly just under or just above, as we observe range trading. This is how we know, the bottom is in / close. And from here, it's only a matter of time until we start turning around to another bullish cycle. Where the gains far outweigh the risk.
Following this logic, the next reasonable (very reasonable) target, is the purple moving averages, and beyond. Currently at $4.3, a nice +8% from here.
_______________________
From a 4h perspective, we can see the short term price is still very bearish.
This is confirmed by trading under the moving averages, which indicates that the sellers are in control.
The great news about this is that the price doesn't stay long UNDER the moving averages in the 4h. From the chart below, we see a very evident bearish trend - the price STAYS under the moving averages, with occasional, random wicks above and to the upper purple (200d MA).
After the bottom, marked the "BIG TURNAROUND", we see the price trading mostly just under or just above, as we observe range trading. This is how we know, the bottom is in / close. And from here, it's only a matter of time until we start turning around to another bullish cycle. Where the gains far outweigh the risk.
Following this logic, the next reasonable (very reasonable) target, is the purple moving averages, and beyond. Currently at $4.3, a nice +8% from here.
_______________________
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discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
Related publications
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.
Discord Server
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
Related publications
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.