ATOM from a daily perspective recently made a small fake breakout above the weekly resistance 10.780 followed by a strong bearish impulse which broke below multiple levels of structure, since the bearish impulse price has made a nice retracement which is currently testing the 0.618 fib in confluence with daily resistance, we can see on the LTF price is already showing rejections in this zone - we are monitoring PA from a LTF perspective and waiting for one of our valid entries according to our strategies to capitalise on this impulse correction continuation move to the downside - we will be targeting the unmitigated demand at the psychological level - 8.00
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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.