blauersamt

A bullish Ascending Triangle for ATOM?

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blauersamt 已更新   
COINBASE:ATOMUSD   Cosmos
A little take on ATOM.
Weekly got Charted here.

It seems that ATOM could be moving within an Ascending Triangle. An Ascending Triangle is a "Bullish" continuation pattern, so this means if Price comes in, in an Uptrend there's a higher probability that it will break higher and vice versa.

I did use the Heikin Ashi candle in this chart, since it gives you a clearer view on the current "Trend". Presently, it seems that the current Downtrend is weakening and that there's a Chance of a reversal, the MACD also do start to "Confirm" that.

Also, the Fibonacci Golden Pocket got retested again, we have seen a beautiful bounce of that.

Coming back to the Ascending Triangle, of course a breakout can occur way earlier than shown here, but usually price moves withing the pattern until the apex is reached. In that case, ATOM could range between 30-40$ for Weeks to come now until breaking higher.

After a Breakout, preferably there's going to be a retest and a Bounce of the upper Trend line that got broken. Measured Target would be at 59.70$

KEEP IN MIND:
The World is in a Volatile situation, so this always can turn to the opposite.

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This Analysis is not intended to be investment advice. Always DYOR.
評論:
Sorry for the spelling error on the chart.I meant to say:
"MACD starts to Confirm the Trend as seen on the Heikin Ashi Candles."
評論:
So, Atom faild to hold the Line. Sadly a Bullish MACD Cross did not happen to, just yet.


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