ATOMBTC BINANCEATOMBTC 4 HR Chart on Binance pattern isn't looking good. Window Oscillators MACD and BB aren't in agreement (BB is at the support level and MACD is going down)
Momentum of the price action is going down on 4 hr chart, with this MACD line is down and isn't in agreement with Price movement. Volume going down. It may indicate that selling pressure is going to start.
Currently, it is testing FIB retracements near at 23.6,38.2 & 50 % areas as shown in charts.
A couple of things can happen based on TA
It may reach TP1 target and bounce back to Minor support for testing or it may go further down to retest at the major support level in a couple of days based on selling pressure. Falling wedge happening currently, so the price can reach Tp1 if a breakout occurs.
It may test well at TP1 region and test TP2 and bounce back ( MACD isn't agreeing at this moment for this price action). Maybe FA can move price to TP2 area.
Based on the above analysis, if you want to invest in ATOM, set only for TP1 for short term and wait for price retracement and enter again for target TP2 based on the price momentum. Please note that I have seen many cases where oscillators will misguide and we may miss some major profits.
Please do your own research before investing in any crypto coin.
Please refer to below link for more information about MACD AND PRICE ACTION disagreement:
