ATOM/USD Long-Term Trend: Bullish
Key Resistance Levels: 41.354, 43.050, 43.631
Key Support Levels: 38.224, 37.151, 36.048
From an Elliot wave perspective we have what may be an (ABCDE) setup, and the (E)-wave may be our current cycle. We have also established somewhat of a bullish channel and are coming off of the lows of that channel. Long term, I would look at taking long positions if we get significant pullbacks.
ATOM/USD Medium-Term Trend:Bullish
On the shorter timeframe, we have a possible abcde wave cycle playing out. If we can avoid breaking below the base of the d-wave, we may see a move to the +40 for an e-wave completion.
Buy Market order @ 39.062
TP 1 @ 41.354
TP 2 @ 42.144
Stop Loss @ 38.229
Trade Safely 🙂