UnknownUnicorn1038536

Cosmos Breakout from Range - Possible Price Markup

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BINANCE:ATOMBTC   Cosmos / Bitcoin
As part of my series of trying to pin down Wycoffian patterns, $ATOM caught my eye. In February ATOM made its first markup, where it then blew off the top. Price stayed suppressed under the volume-weighted average price. On the 19th, ATOM started a rally that sent it over to the VWAP. At the start of May, it saw a volume-supported rally, pushing it across the resistance.

In Wycoff cycles, the entry is usually done after the breakout retraces. I got in early, at around 5100, because I'm a FOMO beast. If the retrace makes a move up above the previous high, that is considered a good entry to ride the markup. Volume seems to be following buyers and price moves up while falling during bear candles.
評論:
Still not entry time, but it's looking good.
評論:
Quite surprisingly, ATOM came out higher from the bitcoin drop. There's a massive cup and handle in the 1D frame, so the setup is still open to happen.
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