ATOM shows some weakness

23 Jan 2023

ATOM was struggling to break the trendline resistance (black line).

While the breakout is still a question and depending much on the strengh of BTC, some sign of weakness in ATOM structure have already appeared.

Firstly, on 4H TF, ATOM is forming a double top patterns with bearish divergence on MFI indicator. Also, it is breaking the 4H trendline.

On higher TF, 1D and 2D, a bearish divergence can also be seen (see the below screenshot)

If market sentiment are no longer positive, one can consider this crypto for a Short.

25 Jan 2023

Catatan

ATOM is moving as expected.
10% down since being rejected by the trendline. Partial profit booked.
It's now retesting the neckline $12.9

25 Jan 2023

Trading ditutup secara manual

ATOM is at entry.