ATOUSDT wants 6$?

2023년 8월 17일

Descending Channel Formation: The current market situation involves ATOMUSDT forming a descending channel pattern on the daily timeframe. A descending channel consists of two parallel trendlines, one functioning as resistance and the other as support. This pattern suggests a potential continuation of the ongoing downtrend.

Key Level Loss: The analysis indicates that the price of ATOMUSDT has moved below a significant level around the $9 area. These levels are noteworthy due to their historical influence on price movements.

Retest and Potential Resistance at $9: There exists the possibility of a retest of the $9 area, which was previously breached. In technical analysis, former support levels can assume the role of new resistance levels after they are crossed.

Retest of Old $6 Area: The analysis also suggests the potential for a revisit to the previous $6 area. This scenario could entail a further downward movement in the price.

Plancton's Rules Application: Following Plancton's Rules and aligned with the analysis, a consideration of a new short position is in place. A short position entails selling the asset with the expectation of a decline in its value.

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• 🟣 Purple structure -> Monthly structure.
  
• 🔴 Red structure -> Weekly structure.
  
• 🔵 Blue structure -> Daily structure.
  
• 🟡 Yellow structure -> 4h structure.
  
• ⚫️ Black structure -> <= 1h structure.
  

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