💼🔄 "ATOM Coin Analysis Update - Heavy Fall?" ⛔️📈
💹 Let's delve into this cryptocurrency, ATOM, and review our previous position update. If there are new entry points, let's analyze the chart again.
🕰️ In higher time frames like the weekly, except for an event in September 2022, we're still oscillating within a box. Currently, there's no spot entry for buying, and it's better to wait without getting involved in an indecisive space.
📈 However, in lower time frames, this coin is entirely tradable and shows logical movements. We can open positions for the future and profit from them.
🌟 Before discussing new entry points, let's review the previous position. It was mentioned that if the support at 10.679 is lost, and a candle closes below this support, a short position can be opened in the direction of the trend. This happened after the 4-hour candle closed, and the position was opened as market with a tight stop loss set.
🎯 The logical stop loss for this position is at 11.329. However, as I trade more riskily, I can still control myself if the stop loss is hit and open another position with smaller stop losses. This position has already moved to a risk-to-reward ratio of 4 and is currently at 7. In the future, I'll tell you how to take higher risk-to-reward ratios.
🔍 Now, let's move on from the previous position and look for a new one.
📊 For a long position, we have tested the resistance at 8.941 twice now, and if this resistance breaks next time, we can open a long position, but if there are more touches, we'll have more confidence in this resistance. If it breaks, we'll wait for a higher ceiling and floor according to Dow Theory.
📉 For a short position, our task is clear, and we'll wait for support at 7.768. We won't open unnecessary positions in this box between 8.941 and 7.768, and we'll wait for our confirmations and the creation of a new market state.
💰 Also, these days, the market moves a lot in relation to Bitcoin, and the possibility of Bitcoin reaching $48,000 exists. If Bitcoin dominance is bullish, altcoins like ATOM will experience further declines.
💪 Our upcoming supports will be 7.768, 6.823, and 6.260, and our resistances will be 9.749, 10.679, and 11.329. There's a possibility of a probable re-action to them.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
🕰️ In higher time frames like the weekly, except for an event in September 2022, we're still oscillating within a box. Currently, there's no spot entry for buying, and it's better to wait without getting involved in an indecisive space.
📈 However, in lower time frames, this coin is entirely tradable and shows logical movements. We can open positions for the future and profit from them.
🌟 Before discussing new entry points, let's review the previous position. It was mentioned that if the support at 10.679 is lost, and a candle closes below this support, a short position can be opened in the direction of the trend. This happened after the 4-hour candle closed, and the position was opened as market with a tight stop loss set.
🎯 The logical stop loss for this position is at 11.329. However, as I trade more riskily, I can still control myself if the stop loss is hit and open another position with smaller stop losses. This position has already moved to a risk-to-reward ratio of 4 and is currently at 7. In the future, I'll tell you how to take higher risk-to-reward ratios.
🔍 Now, let's move on from the previous position and look for a new one.
📊 For a long position, we have tested the resistance at 8.941 twice now, and if this resistance breaks next time, we can open a long position, but if there are more touches, we'll have more confidence in this resistance. If it breaks, we'll wait for a higher ceiling and floor according to Dow Theory.
📉 For a short position, our task is clear, and we'll wait for support at 7.768. We won't open unnecessary positions in this box between 8.941 and 7.768, and we'll wait for our confirmations and the creation of a new market state.
💰 Also, these days, the market moves a lot in relation to Bitcoin, and the possibility of Bitcoin reaching $48,000 exists. If Bitcoin dominance is bullish, altcoins like ATOM will experience further declines.
💪 Our upcoming supports will be 7.768, 6.823, and 6.260, and our resistances will be 9.749, 10.679, and 11.329. There's a possibility of a probable re-action to them.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
