ATOMUSD trade ideas
$ATOM - COSMOS Cup and Handle forming on the weekly. Updated!The pattern held! I have provided the first target and a couple of invalidation targets as well. The highlighted green portion is my first expected push and if we hit a sideways or downward trend from here, possibly due to BTC retesting lows etc... things could certainly change fast. For now however... Up it is! Cosmos has a lot going for it fundamentally and they have more and more stuff coming online every day. Check out the ecosystem if you haven't yet. Thank you for taking the time to look through my idea. I appreciate any feedback.
Trade with patients, trade with wisdom. Live long and prosper! 🖖
Cosmos Ecosystem link here: cosmos.network
ATOM (COSMOS) Cup and possible Handle forming on the weekly. We see a classic cup pattern forming for ATOM after a very nice consolidation over the last few months. However we must wait to see how the handle or lack of handle resolves. Wait for the initial dip after the right side has completed to confirm. If a handle does form you will want to look for buy ins at the initial dip where the arrow is located.
The "cup without handle" also called a "cup-shaped base" or simply a "cup" Is the same pattern but lacking a handle. This is the same pattern with a key difference on the buy in point. You can fairly accurately estimate the buy in point by adding 0.10 cents to the peak on the left side (the last area of resistance). Be patient wait for targets and you will almost always come out ahead.
Let me know your thoughts and thank you!