#ATOMUSDT
ATOM completed the AB=CD pattern as I shared before.
now price needs a correction, so I think #ATOM is trading inside a diamond pattern which is a reversal and as you can see included 2 parallel channels.
price broke out from middle line of descending channel, but it seems that the middle line of ascending channel have strong resistance. although price may have go up to touch the upper line of descending channel that is the same as middle line of ascending one,, then a slow and boring down trend to lower line of descending channel, to touch the 0.5 or 0.618 fib level of last swing high.
ATOM completed the AB=CD pattern as I shared before.now price needs a correction, so I think #ATOM is trading inside a diamond pattern which is a reversal and as you can see included 2 parallel channels.
price broke out from middle line of descending channel, but it seems that the middle line of ascending channel have strong resistance. although price may have go up to touch the upper line of descending channel that is the same as middle line of ascending one,, then a slow and boring down trend to lower line of descending channel, to touch the 0.5 or 0.618 fib level of last swing high.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.