đ” Chart 1 day time frame
Friends, good afternoon. Based on the results of the reaction, you wanted me to publish analytics on #ATOM . The asset is strongly influenced by sellers, which can be seen from the Japanese candlesticks. Note that long candles have relatively short bodies and long shadows, while short candles are the opposite. The coin reached its local bottom at $7.1615, followed by a strong reaction from the buyer, who was able to take the asset above the 0.236 Fibonacci level and is trying to gain a foothold there.
We were moving within an ascending triangle and an ascending parallel channel. At $9.5354, both figures were broken into shorts, which is a strong signal of the predominance of sellers in the asset. We saw the formation of a bullish pin bar pattern, which is a sign of a trend reversal. Despite the local growth, there is a catastrophic lack of volumes due to the dominance of BTC and the buyer made great efforts to achieve his goals, but the trend dragged on (And the fall of BTC also helped).
The coin is highly dependent on BTC and exactly repeats its movements (growing twice as slow, falling several times faster). I remind you that the SEC, in its appeal to the Binance exchange, stated that ATOM is a security, which certainly does not play in favor of longists. Investors are systematically abandoning the asset. if we do not hold the 0.236 Fibonacci level, we will see a strong decline to the local minimum at $7.1384. Most of the indicators are at their median or near the median and allow assets to go in either direction.$ATOM
