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ATOM

Cosmos-When will this bear market end??!Hello everyone Since the 3ed of April we had some good falling momentum in the market for ATOM.But I have to consider the investors and holders feelings too. in the last 2 days we have seen the lowest price for ATOMUSDT in 2022. As you can see we had a support level on 20$ and it seems like we had a reaction from the market in this level, But does this mean a reversal will happen? Well No, reversals rarely happen in the market, but consider today's bar a good setup for it and keep an eye out. I think we can have a bear flag pattern in smaller timeframes happening here, because of the bad news in wallstreet and that we don't know how long will the effect of it last.In daily we have a daily trend line which can turn into a wedge formation, creates a pinbar (3 candles pattern)and give us a possible breakout to the resistance level of 23$ above or maybe break out of that too. P.S. I know the trend line created a triangle pattern BUT this is the lowest we have been in 2022.
by HubAlgo
Moment of truth for $ATOM$ATOM has been down trending for several weeks, forming a descending triangle. Now price reached support at $23.5 but everything is in $BTC hands. If you look at the RSI you can see a bullish divergence forming but this is not enough, waiting for more conformations. I will only go long after a bounce from support with bullish volume followed by a breakout of the triangle's resistance! I will only go short if price broke below support with huge selling volume: Be reactive not predictive :)
by dogofwallstreets