Perfect possible Double Top into the Cosmo?
ATOM/USD
Bearish Case
- Double Top can be seen (white line)
- 1hr and 8hr RSI shows a exaggerated bearish divergence
- BTC is retracing, eventually ATOM will follow to in this bear market
Target Zone
- $13.41 (neck line of the bottom of double top)
- $12.81 (0.618 fib retrace)
- $11.60 (0.5 fib retrace & start of double top)
Bullish Case
- May break higher 8hr Histogram showing reversal
Thoughts?
Bearish Case
- Double Top can be seen (white line)
- 1hr and 8hr RSI shows a exaggerated bearish divergence
- BTC is retracing, eventually ATOM will follow to in this bear market
Target Zone
- $13.41 (neck line of the bottom of double top)
- $12.81 (0.618 fib retrace)
- $11.60 (0.5 fib retrace & start of double top)
Bullish Case
- May break higher 8hr Histogram showing reversal
Thoughts?
Trade active
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.
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.