Cosmos (ATOM ) to $2.50

21 set 2023

But first price action shall move to the 11-12 dollar resistance before the downtrend continues.

** trading opportunity **

On the above weekly chart pice action has confirmed a bear flag breakout. The flagpole measurement forecasts an eventual target of $2.50.

Meanwhile a breakout of RSI resistance prints with a weekly bullish engulfing candle. The weeks ahead shall likely print a strong upward move at first until resistance.

Is it possible this resistance test at $12 fails to hold? Sure.
Is it probable? No.

Ww

Type: Trade
Risk: <=6%
Timeframe: Long now this month until resistance
Return: 50% or thereabouts

7 dic 2023

Nota

A move to resistance / $12 area next.

12 dic 2023

Nota

Approaching resistance area.
Can the bulls push this 4billion batholith through resistance?

8 gen 2024

Trade attivo

Perfect rejection from resistance. The weekly candle that recently printed, do you know what it is called?

youtube.com/watch?v=CCzD3ONQsmM

Weekly

20 gen 2024

Nota

Price action must close above $10 by Monday to void this trade.

26 feb 2024

Nota

Price action now must close a weekly candle this week or the next above $13 to void this idea.

9 mar 2024

Nota

In the last update:

“Price action now must close a weekly candle this week or the next above $13 to void this idea.”

48hrs until that 2nd weekly candle close and price action struggles still to close above $13. Why?

Look left.. price action is at the scene of the crime, broken market structure. This is the reason for the resistance.

weekly

28 mar 2024

Trade attivo

Don't wish to be a Debbie Downer in a bull market, however as anticipated there are tokens that are not participating in this bull market, ATOM is one of them, just like MATIC amongst others.

On the 5-day chart below a significant bearish divergence has confirmed from broken market structure. Previously such strong bearish divergencies saw a 70% correction. Look left.

5-day

15 apr 2024

Trade attivo

Picking up speed... most recent support has confirmed as resistance.

4 day

9 giu 2024

Nota

Price action rejects the weekly 50-sma, which is also the channel resistance drawn in the published chart. Correction should pick up speed for price action in the coming weeks.

Week

18 giu 2024

Nota

Only another 60% to go!

5 lug 2024

Nota

Almost there. Today price action takes the Black slope.
Once you start there's no stopping!

6 ago 2024

Nota

The bulls are tenacious as they are poorer. I take no pleasure in being the messenger (okay that’s a lie) however you should note nothing has changed about the target.

Market structure has confirmed a breakout. That breakout has confirmed as resistance. Wait for the target area around the bottom of this channel by early 2025.

Weekly chart

12 ott 2024

Trade chiuso: obiettivo raggiunto

Dollar short or target, but good enough.
The closer of this idea is not a long indication until the downtrend resistance is broken.

2 nov 2024

Trade attivo

This idea has already met the goal... There was an expectation price action would now move up... that was until market structure broke (red circle). Sorry bulls, you're looking at an additional 40% correction to support.

2 week

2 feb

Nota

That very same downtrend resistance drawn in 2023 was tested, guess what? It was absolute hammer to price action.

More downside to come.