ATOMUSDT Descending wedge in another wedge!/Trading strategy
ATOMUSDT1H trend chart
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Price has been consolidating in two descending wedges.
Now, it broke out the first upper downtrend line, and still have another(orange line) needed to be taken out.
And there is a potential double bottom pattern forming.
If price can stand firm at 34.8, trading strategy as below.
*Notice the long-term downtrend line will show resistance
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Profit Targets:
a) 36.13~36.67----Fib(1.272~1.382)
b) 37.83----Fib(1.618)
c) 39.7-----Fib(2)
Stop losses:
a) 31.64----Red horizontal line
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