Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Cosmos (ATOMUSD).
The chart is self-explanatory. Cosmos price is at the edge of an Arc Formation as well as around the 200D simple moving average. The RSI and MFI is at or near the support line. The last three daily candles look like Three Black Crows Pattern (bearish). Though price has potential to bounce back up, there is an upcoming red Ichimoku Cloud resistance as well as the overall crypto market downturn led by Bitcoin. If price falls below the 200 MA and outside the Arc Formation, expect a potential strong support at the multi-month support line.
Included in the chart: Trend line, Support and Resistance Lines, RSI, MFI (Money Flow Index), Ichimoku Cloud, 200 day simple moving average.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
코멘트
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Clarification: Today's red candle hasn't closed to completely form the Three Black Crows. This is still a strong possibility. Sorry for the confusion.
코멘트
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Broke down from the Arc and touched the 200 MA as noted above. No laser eyes here.
this daily candle hasn't closed yet so 3 black crows is still in question. we also closed above the .618 again today. one thing is for sure this week will be interesting
MillionaireEconomics
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@bullybetting, Thanks for the clarification. I really appreciate it. I did note that in my follow up comment above. It will surely be a crazy rest of the week for the overall market. Thanks!