In 2D time-frame, ATOM is breaking out its resistance trendline starting from February 2023. Good buy volumes show that this break-out is interesting.
In my opinion, it is a good moment to buy ATOM because if we consider range's low as SL and range's high as a final TP, we have a very good R:R = 7
Here is the view in weekly time-frame.
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
Trade closed manually
Wait for BTC to bounce from $BER:33K to re-entrerTrade active
ATOM is retesting the trendline and still hold well above it although BTC's drop.Note
+12% from entry. Booked partial profitDon't forget to move SL to entry because BTC is closed to strong resistance
Note
61% since entryNote
ATOM is trying to breakout the mid-term trendline (starting from September 2022). If successful, ATOM will make the final rally to reach the final target of this trade.
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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.
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.