Foreign Welcome to another update video about The cosmos atom Cosmos or atom has Dropped into my target area into the First Target area there are two on the Charts here on the chart here showed you In the previous video the two options That we have For this movement the most imminent Bullish options yeah there's also a Third option which is slightly more Bearish but really as long as we hold Above 6.80 there is nothing bearish on This chart so it remains my view that There is a good chance that since the or From the low here on the 22nd of November we either formed a wave one and The Wave 2 already and we are now in a Third wave There will be a fourth and a fifth and In this third wave we have already done A wave one and we're currently forming Here an ABC structure in a wave 2 and Will from this support area which is Located between 9.70 and 10.10 starts to Move up in a third wave of the third There will be a fourth wave in the fifth Wave this would be the most imminent Most short-term or yeah most short-term Bullish option Um but for that we need to hold the 78.6 FIB level which is at 9.70 and then we Can reach this small Wave 3 there Highlighted in blue and the target would
Be based on the latest low Target would Actually be 11.91 okay so that is quite a nice setup Here Um of course as you can see the market Or the price can use the entire yellow Box here However unfortunately due to the price Structure it's not entirely clear is This already a one two one two setup or Are we in something different are we Well are we in the same wave pattern but Is it going to be structures slightly Differently so it could be as well and That this is yes a wave one but this was This move down here was not the complete Wave too actually what we're doing is a Wave a Overshooting wave B and then wave C down Into this area And from here that would be the option That we can use if we lose 9.70 we then Still have a chance to find support in a Different structure between 8.91 and 9.39 and then rally in a way three we Won't know which of these patterns is Going to play out unfortunately markets Are uncertain to a degree but having two Very likely options already helps us to Make our trading decisions so my view is That ideally we either move up from here Or from here should we even lose the 8.91 level then all we can do then is to
Reset this wave to that's the third Bullish option but it's short term a Little bit more bearish because it means That this move is just corrective and we Are going to break down once more for The larger one two setup yeah that we Talked about let me zoom out we are Going to then have to reset its low well It's not my preferred option I can tell You that as well but it is of course Something we need to talk about Something we need to be aware of and It's a bit slow the internet here today But um Basically you've got the option that This Wave 2 was over here on the 20 I Think the 21st of November at the low of Around 8.71 and we are now already here In the third wave to the upside and that Would be well yeah as I said the most Bullish option I think it's just loading Now I don't know what's going on here maybe It's the Coinbase feed I don't know Um but um I'll just keep talking but um This would indicate we are already in The wave three yeah and then just There's two options how this one two Could play out either one two one two And we are starting to Rally very Shortly or one and a deeper wave two and Then we've got the also bullish but Short term more bearish option and that
Is just that this Wave 2 here and I have No idea why it's not loading but don't Bother Um that this Wave 2 will have to be Reset a little bit lower that's possible As long as we're holding above the let's Say roughly 6.80 level again it would Not be bearish it just means that we are Not yet in the third wave to the upside Okay so just something to be aware of Um and yeah this is uncertain uh and Unfortunately the uncertainty we have to Deal with in those markets so keep an Eye on these two support boxes the first Box will get invalidated below 9.70 the seven the second box will get Invalidated below 8.91 but in both Scenarios we should see a third wave to The upside it's just a question of is The market going to use the first box or Is it going to be the second box yeah so This is both possible And actually quite an interesting long Trade setup and so Cosmos atom is Starting to make a fairly good Impression again so it's worth putting That onto the watch list when do we know That we are already starting to the Upside well it's actually quite Straightforward here especially with This movement here you can just draw a Trend line in fact this looks actually To me a little bit like a bull flag or a Little bit like these uh yeah descending
Wedge which is a bullish pattern so Anywhere in here as soon as we break out Of the wedge to the upside there's a Good chance that this is a Wave 3 that Started okay and that's my update about Cosmos atom I hope you like the update If you did please hit the like button Leave a comment and subscribe and if you Really like the content then please Check out the channel membership thanks A lot for watching bye Thank you