Cosmos ATOM Crypto Price News Today – Technical Analysis Update, This is Happening Now!

Cosmos ATOM Crypto Price News Today - Technical Analysis Update, This is Happening Now!

Foreign Welcome to an adapted video about Cosmos Atom so yeah atom is currently following The wave County in the last video we had This massive Spike to the upside this Unnatural Spike I think by the time I Had made the last video we were already Down here again to ten dollars this bike Reached all the way up to 1040 it looks Quite significant on the lower time Frame here if you zoom out it's not that Significant but a few people Um already got Um quite bullish about it but as Suggested in the last video it was a Very clear three wave structure to the Upside so the assumption is it's not Sustainable it most likely will sell off Again which it did so we made this lower Wave 5 so we've actually fulfilled this Scenario from the last video that we Would come down lower in a wave five However the question is is this wave 5 Over or not at the moment I'm leaning Towards it's not finished yet and it Will come down a bit lower Um because the the wave pattern that we Have here on the lower frame is that we Moved up in a wave one not like that More like that wave one we came down in An a wave we moved up in an overshooting Wave B and we're coming down in a c wave A so-called ending diagonal pattern Which is here one two three four and the

Last wave down is five minimum Target For such a ending diagonal which is Expanding yeah which is quite rare but It's expanding so minimum Target would Actually be that the wave 5 has to be Longer than the wave three so we can Just double check that Wave 3 was that Long yeah and the wave 5 would then Actually need to get to And that's obviously in the perfect World but that's sort of the ideal Targets it's what you would expect is to 9.26 at least get the same length as the Wave three I mean you could say minimum Expectations are fulfilled because the Way five ended lower than the Wave 3 but In all likelihood you would expect it to Come down a bit lower also looking at The lower level wave pattern for this Wave five I would argue that probably we Had here wave one a small wave two then We come down in the came down in the Wave three this is a four and we may get One more low Um either way until we get any kind of Impulsive price action to the upside I Cannot confirm that a low is in we are Currently entering a support area or About to enter that we haven't really Touched it yet but this is the support Area for this one two setup which is a Possible bullish setup it is defined Between the 61.8 flip level at 640 uh Sorry 9.38 and um the 88.7 flip level at

8.92. as long as we're holding this Support area it is possible to still Hear from here reverse to the upside Inner wave three ideally we already Don't want to go below nine dollars and Nine that is the 78.6 percent flip level But I'm giving it the benefit of the Doubt because the Wave A came down quite Low so ideally we want to hold above 8.92 yeah well ideally above 9.9 In an extreme case it needs to hold Above 892 if we lose this support level Then it has to we have to assume that we Are in this alternative wave too which Is still bullish but short-term bearish So we come down a bit lower into this Area between 680 and eight dollars Um so first attempt for reversal can be Made in this support area if we lose it Then we're gonna get into the next Support area and we are resetting this Wave 2 which at the moment I assume Ended there where we had the 870 level On the 23rd of November so how does it All fit into the larger wave pattern so At the moment we can carefully assume That the June low was already the bear Market low we moved up in a wave one we Came down in a wave 2 in an ABC pattern This could fin could be finished here it Was on the 23rd of November we then Created another one two setup to Validate that we need to hold the yellow Support area that I just defined however

If we lose this support area we're most Likely going to get into this larger Wave 2 area Um Which would mean we have to reset this Wave too yeah that this Wave 2 didn't Finish here because if you make a lower Low then the Wave 2 couldn't finish here Because it invalidates this bullish one Two setup yeah and then we have to Assume maybe Wave 2 finishes here but Then Um if we drop below 683 we're gonna go Into bear mode on this chart so we are Currently pulling back into support We've got a larger one two setup maybe a Smaller one and the idea is that if These are finished we're gonna rally in A third wave to the upside and I can Give you a possible Target for the third Wave Depending on how low we really go but Let's let's look at the most bearish Option then the target for the Wave 3 Would be around 26 dollars not a bad Reward to risk ratio Um but at the moment I can also tell you We have no evidence yet that we are Stopping here that we have Bottomed out here so we've come back to 640 942 And the move up currently is not really Convincing so there's nothing really Bullish here no bullish reaction this

Rather looks like a corrective wave Pattern maybe something like a triangle Which would be considered a trend Continuation pattern which would most Likely result in a move to the downside However if we now push to the upside get Above the wave four high we have to Assume that the low was already in and That's my update about atom Cosmos atsum 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

Leave a Reply

Your email address will not be published. Required fields are marked *