ATOM, double top short-term decline.The following are machine translations:
On the daily chart, it is a bullish trend along the trend line. It is currently blocked twice near 17, and it may form a double-top short-term decline.
The indicator macd is dead fork, and the RSI indicator is distributed downward above the neutral 50.
Summary: The local double top plus bearish indicator may fall back to the lower uptrend line in the short-term.
ATOMUSD trade ideas
Perfect possible Double Top into the Cosmo?ATOM/USD
Bearish Case
- Double Top can be seen (white line)
- 1hr and 8hr RSI shows a exaggerated bearish divergence
- BTC is retracing, eventually ATOM will follow to in this bear market
Target Zone
- $13.41 (neck line of the bottom of double top)
- $12.81 (0.618 fib retrace)
- $11.60 (0.5 fib retrace & start of double top)
Bullish Case
- May break higher 8hr Histogram showing reversal
Thoughts?
Games of Capital Rotation, example with $ATOM and $AXS$AXS was a coin that hit peak hype and coincidentally has some of the worst tokenomics. $ATOM on the other hand _might_ be forming to be a winner in the next cycle. Simple pair trade, shorting the past hype, longing the future hype and avoiding the crab bites. Similar to SAMA Long below ( + $SOL , $MANA)
ATOMUSD Altcoin Bullish analysis againThere is clearly some type of Cup and Handle in the making
Will need to wait for the breakout.
Then LONG!
Target 1 = $17.81
I am quite a bear with most S^$t coins but ATOM at least is showing bullish momentum and signals amongst the crypto uncertain environment.
I am optimistically bullish with ATOMUSD
What other analysis would you like on 4 hours?
Trade well.
Timon
Founder, MATI Trader
Cosmos: Well begun is half done!Cosmos seems to have taken this motto to heart and is appearing at its best. The altcoin has already managed quite some altitude difference on its way upwards to the resistance at $21.54, and it should keep going. Once above this mark, Cosmos should be well-positioned for further ascent. A 40% chance remains, though, that the altcoin could lose its steam and drop below the support at $5.54. In that case, Cosmos should make a detour through the turquoise zone between $5.27 and $0 first before starting to rise anew.
ATOM to $5.6 ??Good evening all,
Yesterday was released monthly CPI rate 8.3 %, expectation was 8.1%. Next week more to come from FEDS. I think rates will be hiked to 100bps. In this case very bearish market to be expected. Im maybe complete wrong however this is my thought. Let me know what you think and good luck to all!!!
"SAMA" LongSpread trade on narratives and capital rotations:
- Long Solana $SOL & Cosmos $ATOM
- Short Axie Infinity $AXS & Decentraland $MANA
Just playing into intra-cycle shifts whilst trading the orderblocks that seemingly are respected. Seeking to avoid trading the chop on single coins, opting instead to trade one narrative vs another — in this case; trending L1's vs deflated metaverse coins.