ATOM/USDT Secondary trend (part). Symmetrical triangle.

20 Nis 2023

Logarithm. Time frame1 day. Part of the secondary trend (right shoulder area).

A rather significant symmetrical triangle has formed over several months. The price is almost in the very corner. The denouement should occur in the near future (from the trend position). The price is almost in the very corner of the figure. The areas of the reversal levels are marked in yellow and the percentages of them. I don't recommend to work inside the formation at the moment (final phase of its formation), but to wait for the outcome, i.e. a breakdown, and better yet a pullback after the breakdown and confirmation of the reversal.


Fundamentals and the distribution of coins by price between market participants are initially "different purse."

I would also add, it is fundamentally one of the most promising blockchains and one of the cryptocurrencies in speculative terms with the most unfair competition. Consequently, always limit the potential losses in your work. For you super losses, for someone this price will be the most inadequate profit.


This is what this triangle looks like on a line chart.




The entire secondary trend. Time frame 1 week

ATOM/USDT Secondary trend. Right shoulder area

The main trend. Time frame 1 week.

13 Ağu 2023

Not

Symmetrical triangle has been broken down. The first short target has been reached -18% (level 8,429). Thus, a harmonic pattern is formed. Potential reversal zone (unlikely).

Percentage to key support resistance levels are shown.

17 Ağu 2023

Not

Atom to bitcoin. A channel for work and hedge.

16 Kas 2023

İşlem kapandı: hedefe ulaştı

So far two targets have been reached:

1) -27% The short target is exactly -27% from the breakout of 8,429 level to 6,18 level.
2) +70% from the corresponding level of 6.18 reversal and price growth to the level of 10.350.

Holding well, but the price is at an important resistance zone. Protect your profits, curb your greed.

PS. Why do you think I did not remove 2 short interest targets from the last update - 18.10% (it was not relevant anymore as the price was lower) and -44.55% when I published the last update? For the observant, no more than that.

16 Kas 2023

İşlem aktif

27 Ara 2023

İşlem kapandı: hedefe ulaştı

The second target of exactly +113.18% to the level of 12,666 has been reached. Key local levels and zones from which the development of the medium-term trend depends are shown by arrows.