Trading Idea 021: CosmosMarket Conditions:
- trend reversal situation
- consolidation around the resistance
- bullish sentiment in the market
Key Level and Lines:
- $13.45 support
- downtrend line
Trading Ideas:
- go long after consolidation and reversal from the support
- go short if the price bounces from the resistance.
ATOM
ATOM shows some weakness
ATOM was struggling to break the trendline resistance (black line).
While the breakout is still a question and depending much on the strengh of BTC, some sign of weakness in ATOM structure have already appeared.
Firstly, on 4H TF, ATOM is forming a double top patterns with bearish divergence on MFI indicator. Also, it is breaking the 4H trendline.
On higher TF, 1D and 2D, a bearish divergence can also be seen (see the below screenshot)
If market sentiment are no longer positive, one can consider this crypto for a Short.
WILL BINANCE DELIST EFFECT ATOM?Binance has announced that it will delist ATOM from its spot trading platform on January 27th, 2023. . we look at the short-term frame of what could change.
Holders of ATOM on Binance's spot trading platform have two options: they can either transfer their coins to a different wallet or sell them. The latter option may have an impact on the price action of ATOM. However, it is important to note that there are no guarantees on how the market will react, and it's important to consider all possibilities
The news is just new and not older than 1H.
When the same happened before at the beam, we did see a huge breakdown of over 30%
but still, this does not mean it should happen the same, this idea is only to get watch the trend.
ATOMBTC - Is ATOM Looking Weak Against Bitcoin Right Now?Following on from the surge of Bitcoin recently (and the huge profits that Crypto Tipster took away from it!) we're left in a bearish market for several alt-coins that didn't quite manage to rocket like lots of others have. ATOM could be one of them.
As you can see we've lost around 12% since touching the upper limit of the channel it's been ranging in for a few months, is this decline going to continue to the lower edge of the aforementioned channel? That would be a further 20% - it's quite possible and with a Sell signal from Crypto Tipster within this descending consolidation channel, it looks totally possible!
ATOM Looking Bullish!KUCOIN:ATOMUSDT
ATOM is formed in a build up. Waiting for igniting trigger to open position.
On breakdown can short to possible pullback on LTF and wait for another move higher in direction of trend.
Bitcoin is trying to hold support and will guide direction.
Many earnings this week so be prepared to be more patient.
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🌌Cosmos🌌Analyze (Similar movements)!!!⚖️Today I want to analyze the Cosmos project; stay with me.
What Is Cosmos (ATOM)?
In a nutshell, Cosmos bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains.
The project’s other goals include making blockchain technology less complex and difficult for developers thanks to a modular framework that demystifies decentralized apps. Last but not least, an Interblockchain Communication protocol makes it easier for blockchain networks to communicate with each other — preventing fragmentation in the industry.
Cosmos’ origins can be dated back to 2014, when Tendermint, a core contributor to the network, was founded. In 2016, a white paper for Cosmos was published — and a token sale was held the following year. ATOM tokens are earned through a hybrid proof-of-stake algorithm, and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure. This cryptocurrency also has a role in the network’s governance.
It seems that the Cosmos project is following similar movements so that as I specified in my chart, movement (1) is quite similar(even microwaves) to movement (3). Probably, according to other factors of technical analysis, movement (4) also will be similar to the movement (2).
Cosmos Analyze (ATOMUSDT) Daily Timeframe⏰.
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ATOMUSDT 1D Interval ReviewAs the last in today's review, we will check the ATOM chart, just like its predecessors, on a one-day interval. Let's start by marking the downtrend line that the price has to face, and then it is worth marking the local uptrend line that the price is currently moving above.
As for support, we see that we have the first support at $11.37, where the price has now completed a correction, the second support is at $9.99, and the third support is at $8.04.
Now, similarly, it is worth checking the resistances that the ATOM price has to face in the coming time. And here we see that the first resistance is at $12.82, the second resistance at $13.86, the third at $15.31 and the fourth very strong resistance at $17.19.
Next, it is worth paying attention to the EMA Cross 10 and 30, which, despite the correction, still show an upward trend.
On the CHOP index, we can see rising energy, MACD is on the verge of entering a downtrend, while on the rsi we have a nice rebound and a small increase, here it is worth noting that we are moving at the upper limit of the range in which you can often encounter a price correction.
ATOM-BTC has broken out of 3-4 month downtrend, now re-testingATOM-BTC ought normally be on a 20-30 degree downslope to account for tokenomics. ATOM outperforms BTC by 20%+ per year when price ratio is unchanged. We seem to have broken out of the last 3-4 months downtrend. See now that ATOM-BTC is coming back to re-test. ATOM is one of those rare mid-to-high yielders which can hold pace on a price basis over periods of time.
Q: How do you keep a COSMO bull in suspense?
A: I will tell you tomorrow.
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ATOMUSD Daily S/R Resistance| VAH| .618 Fibonacci
Evening Traders,
Today’s analysis – ATOMUSD- trading towards a key resistance zone where a rejection is likely,
Points to consider,
- Price Action Corrective
- Daily S/R Resistance
- VAH Resistance
- .618 Fibonacci Resistance
ATOMUSDT’s immediate price action is at an area of resistance compromised of the .618 Fibonacci, Daily S/R and the Value Area High, this allows for a bearish bias.
A rejection here will continue the bearish trend by establishing another lower high.
The overall target is the POC and level that will confirm the next higher low if price action finds support.
Hope this analysis helps!
Thank you for following my work
And remember,
“You have power over how you'll respond to uncertainty.”
― Yvan Byeajee,
ATOM FORMING ANOTHER LOWER HIGH - BEARISHAs you can see $ATOM #COSMOS is forming a new LOWER HIGH & RSI is in extreme overbought territory.
This is not how bull runs begin.
Almoust every other altcoin has same pattern, aswell as #BITCOIN. The market has to correct to get more fuel to rise higher.
Earnings season is estimated for TradFi to be bad compared to previous year. If SPX corrects, crypto will follow.
Fundamentaly $ATOM is the strongest crypto project in our view, but macro view and TA makes us think we're ready for correction.
Maybe no new lows will be made, but due to extreme overbought levels in RSI price needs to correct a bit.
ATOM Bullish Pennant!ATOM has broken neckline of Adam and Eve and sitting in bullish Pennant for possible upside to about $13.
Possible re-entry ideas on pullback. As usual #Bitcoin rules the direction but develop an eye to see the next moves.
We are not predicting but preparing.
If you liked this idea or if you have your own opinion about it, write in the comments.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
ATOM :: Falling in the end !ATOM :::
The price has broken out of the larger channel and corrective movements are shown in a smaller channel .
The price will move towards the bottom of the bigger channel, but due to the resistance there, the price will move down .
Resistances :
1_ Floor of the bigger channel .
2_ The roof of the smaller channel .
3_ Linear resistance .
Cosmos ATOM price "tasty" to buy for medium and long termThe ATOMUSDT price has been moving in a beautiful trade channel for the last 3 years.
Now ATOMUSD price has entered the liquidity zone of $8.00-9.50 and is also near the bottom of the channel.
Well, it looks like the $8.00-9.50 liquidity zone is not a bad place to place grid orders to buy ATOM on a likely falling.
Medium-term growth prospects for Cosmos token - $20-26
Recall that tomorrow and the day after tomorrow, increased volatility is expected in all markets and especially in the crypto market.
After all, on 13.12 the US Consumer Price Index (CPI) will be updated, and on 14.12 the Federal Reserve will announce a new US Fed funds rate (forecast +0.5%)
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(ATOMBTC 1W chart)
I think one of the coins that are ranked high by market cap but not getting the attention is the ATOM coin.
If the price continues to rise above 0.0006 508, which is an important volume profile point, it is expected to release upward force.
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(ATOMUSDT 1W Chart)
I think the 11.992-15.083 section is the last resistance section to continue the upward trend from a mid- to long-term and investment perspective.
As such, it is currently in a price range that is burdensome to trade.
(1D chart)
The key is whether the price can sustain it by moving above the downtrend line (1) and above 12.881.
However, the 12.881-15.083 section is composed of HA-High, and there is a possibility of large volatility when it rises above 12.881.
Therefore, it is a section that should be divided and sold to those who already hold it.
A new buy point is possible when we see support around 15.083, but we do not recommend it.
The reason is that this coin market rise is expected to end in a short period of time.
The basis for such judgment lies in the decline of BTC dominance.
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** All descriptions are for reference only and do not guarantee profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator includes indicators that indicate points of support and resistance.
** SR_R_C indicators are displayed as StochRSI (line), RSI (columns), and CCI (bgcolor).
** The CCI indicator is displayed in the overbought section (CCI > +100) and oversold section (CCI < -100).
(Short-term Stop Loss can be said to be a point where profit or loss can be preserved or additional entry can be made by split trading. This is a short-term investment perspective.)
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