After Parabolic Rally, Cosmos (ATOM) Just Formed a Textbook Sell Signal

After Parabolic Rally, Cosmos (ATOM) Just Formed a Textbook Sell Signal
фото показано с : newsbtc.com

2020-8-31 00:00

Cosmos (ATOM) has been one of the best-performing crypto assets of the past few weeks. The prominent altcoin has gained dozens of percent against the dollar and against BTC over recent weeks, setting new all-time highs.

In the past 24 hours, the asset is up 3.6% and up 20% in the past seven days.

Cosmos may be poised to reverse, though, with the Tom Demark Sequential printing a textbook sell signal.

Related Reading: These 3 Trends Suggest Bitcoin Is Poised to Bounce After $1,000 Drop Cosmos (ATOM) Prints Reversal Signal

Cosmos (ATOM) has formed a bearish reversal signal on its BTC pairing, according to a Telegram channel tracking instances of the Tom Demark Sequential.

The indicator is a time-based indicator that prints “9” and “13” candles when an asset is at an inflection point in its trend.

According to the Telegram channel, ATOM has formed a “sell 9” candle on the current weekly candle. This could trigger a strong bearish drop in the weeks ahead.

Chart of Cosmos' price action against BTC over the past year or so from a Telegram channel tracking the Tom Demark Sequential. Chart from TradingView.com

The Tom Demark Sequential has had decent success with Cosmos thus far.

As can be seen with the chart above, a Tom Demark “Buy 9” was formed after a strong drawdown. The asset then bounced by dozens of percent in the months that followed.

Cosmos also flatlined in the two weeks after it formed a “sell 9” candle, but then proceeded to move higher. Technically, this signal was not incorrect as TD Sequential “9” candles are seen when an asset consolidates, not at reversal points.

Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, ETH DeFi Boom, BitMEX KYC Bitcoin to Dictate Altcoin Directionality

Bitcoin is likely to dictate the directionality of altcoins, both against the dollar and against BTC. Volatility in the price of the leading cryptocurrency has often meant that altcoins underperform. As Mohit Sorout of Bitazu Capital wrote to NewsBTC;

“Most (altcoin) cycles in crypto are centered around bitcoin volatility. When it dries up, no one wants to trade btc which becomes evident from the volume as well. This leads to a large uptick in speculation on alts, driving their prices up – typically alts with strong narratives & large scale memetic behavior get the most volumes. It’s interesting to note that btc just experienced its one of the lowest volatility periods. Volatility is a sinusoidal wave & we just passed the trough region of it.”

Bitcoin is poised to see volatility as its price tightens in the range between $11,000-12,000.

Related Reading: Yearn.finance (YFI) Jumps 30% Towards Bitcoin’s All-Time High Price of $20k Featured Image from Shutterstock Price tags: atomusd, atombtc Charts from TradingView.com After Parabolic Rally, Cosmos (ATOM) Just Formed a Textbook Sell Signal

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Atomic Coin (ATOMIC) на Currencies.ru

$ 0.0008254 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0008254 - H: $0.0008254
Капитализация $15.315k Rank 99999
Доступно / Всего 18.555m ATOMIC / 252m ATOMIC

weeks against atom cosmos percent all-time gained

Источник: newsbtc.com

weeks against → Результатов: 126


Фото:

Bitcoin’s Critical Support is Degrading, and It’s Bad for Altcoins

Bitcoin is currently struggling to garner any notable upwards momentum as its price drifts towards its key support at $11,000 Sellers have been in firm control of its trend throughout the past several days and weeks Where it trends in the near-term will likely depend almost entirely on whether or not bulls can continue defending against a decline below $11,000 One analyst is noting that a key technical support level that was bolstering BTC is […]

2020-8-28 21:00


Analyst: Bitcoin Could Surge to $17,000 Once This Crucial Level is Broken

Bitcoin has been caught within a bout of sideways trading for the past couple of weeks This has led it to form a relatively wide trading range between $11,200 and $12,200 The crypto’s buyers have been ardently guarding against a dip to below the lower boundary of this range, as a strong upswing follows each visit here Analysts are now noting that BTC may be positioning itself to see significantly further gains in the short-term […]

2020-8-16 19:00


Bitcoin Prone to Seeing Downside as It Trades Below Key Level

Bitcoin and the aggregated crypto market are struggling to extend the mid-term uptrend that has driven them higher over the past few weeks This has come about as BTC pushes up against insurmountable resistance at $12,000 – a level that it has been rejected at on multiple occasions Analysts are now noting that it may require a daily close above $11,900 for it to see further upside that sends it past this price level There […]

2020-8-14 02:00


Ethereum Reaches Crucial Macro Resistance as Analysts Eye a Pullback

Ethereum’s price has rallied higher today in tandem with Bitcoin and other major digital assets This latest surge simply marks an extension of that seen throughout the past several days and weeks, with ETH now trading at the highest price levels seen in over a year The crypto is currently pushing up against its high time frame resistance, however, which could be a sign that its uptrend will start slowing in the near-term Where it […]

2020-8-1 22:00


Troubling Signs: Why One Analyst is Concerned About Bitcoin’s Latest Rally

Bitcoin has been caught within the throes of an intense uptrend throughout the past several days and weeks This has allowed it to post notable gains, despite previously showing signs of weakness as it consolidated at the lower end of its macro trading range The cryptocurrency has now shattered its high time frame resistance at $10,500 One analyst is cautioning investors against growing too bullish when it comes to this latest upswing He is noting […]

2020-7-28 02:00


Фото:

Cardano (ADA) is Flashing Bearish Signs as Rally Stalls; Factors to Consider

Cardano (ADA) has been one of the best performing top altcoins seen throughout 2020, only trailing the gains posted by Chainlink and Tezos The crypto has been seeing heightened momentum in recent weeks due to the launch of the highly anticipated Shelley mainnet upgrade This update’s rollout coupled with a few positive news developments have bolstered its buyers Despite showing signs of overt strength, ADA is currently pushing up against a significant resistance level This has […]

2020-7-5 22:00


Фото:

The Grayscale Bitcoin Trust May Be Signaling BTC has Formed a Long-Term Bottom

Bitcoin has been consolidating between $9,000 and $10,000 for the past several days and weeks, struggling to garner any clear trend The crypto has expressed some overt weakness in recent times due to its propensity to trade near the lower boundary of this range Buyers have been ardently defending against a drop below $9,000 One trend seen while looking towards the publicly traded Grayscale Bitcoin Trust seems to indicate that the cryptocurrency could be forming […]

2020-7-2 02:00


Фото:

100M XRP Unlocks from Ripple’s Escrow Wallet, Compounding Technical Weakness

XRP has been caught within a long-held bout of consolidation around $0.20, struggling to garner momentum in either direction Although the lack of a consistent USD downtrend may be welcomed by its embattled investors, the cryptocurrency has been flashing some signs of overt weakness as of late One such sign would be the losses it has posted against BTC over the past several weeks Another 100 million tokens were also just moved out of Ripple’s […]

2020-6-9 23:00


Фото:

Investors are Heavily Accumulating Ethereum Despite Gloomy Outlook

Ethereum has been seeing some incredibly lackluster price action throughout the past several weeks and months, setting a series of lower lows while losing ground against Bitcoin Despite showing signs of technical weakness, data shows retail investors have been busily accumulating the cryptocurrency This trend isn’t unique to just retail investors either, as data also reveals that institutional investors have also been stocking up on ETH Ethereum has seen some lackluster price action in recent […]

2020-5-25 22:00


Фото:

Investors Need to “Be Careful” About Bitcoin’s Uptrend Because of These Factors

Bitcoin attempted to push above $10,000 yesterday evening but was once again met with a significant amount of selling pressure that subsequently led it lower The benchmark cryptocurrency is now once again caught within a bout of sideways trading within the mid-$9,000 region Analysts are warning investors against getting too excited about this latest uptrend, as there are a few factors that suggest it could soon see further downside in the days and weeks ahead […]

2020-5-19 23:00


Фото:

Analysts Flip Short on Ethereum as Likelihood of a Sharp Decline Grows

Ethereum has begun finding immense stability within the $190 region following its recent dip to lows of $180 seen yesterday The cryptocurrency has been flashing some immense signs of weakness against its BTC trading pair throughout the past few weeks Multiple analysts are now noting that they anticipate ETH to decline further in the days and weeks ahead, potentially seeing losses that send it as low as $150 in the near-term Ethereum has seen a […]

2020-5-13 23:00


Фото:

Here’s How Bitcoin Could Force Altcoins to Set “Major Lows”

Bitcoin has posted a notable upswing today that has allowed it to approach its next key resistance level at $9,500 The cryptocurrency’s intense uptrend is showing no signs of slowing down as it continues gaining dominance over the entire market Some analysts are now noting that altcoins could be positioned to see some serious losses in the weeks ahead as they all decline against their BTC trading pairs The aggregated cryptocurrency market has continued declining […]

2020-5-8 02:00


Фото:

Bitcoin on Brink of Serious Downside as Risk of Losing Support Grows

Bitcoin is at risk of seeing further downside as it tests a key descending trendline Some top traders are warning of BTC posting major losses in the coming days and weeks In the time following the tempered signs of weakness Bitcoin showed yesterday when it dipped below its key support at $7,200, the benchmark cryptocurrency has further extended this downtrend as bulls now defending against a dip below $7,000. This weakness has led BTC down […]

2020-4-21 21:00


Фото:

This Crypto Could Soon Explode as it Peeks Over Massive Resistance

While the aggregated crypto market consolidates following the recent upswing, Tezos has continued climbing higher as it expresses further signs of strength against many of its peers. This strength has now led the crypto to push above a key horizontal resistance region that was significantly hampering its price action in the past, with a confirmed break above this level potentially opening the gates for significant upside in the days and weeks ahead. The move past […]

2020-4-19 23:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Bearish Signal: Analyst Warns Of Potential Drop To $59,000

Amidst the anticipated positive effect of the recently concluded Bitcoin Halving event, Ali Martinez, a well-known cryptocurrency analyst and trader has issued a noteworthy warning about BTC’s trajectory, predicting that the price of the crypto asset could undergo a correction to the $59,000 mark.

Shiba Inu volume Gains momentum

Recent data has revealed the crypto exchange with the highest trading volume of Shiba Inu, indicating an upward trajectory for the digital asset as the volume continues to surge in the crypto exchange.

Bitcoin Timing Tool Says This Might Be The Dip Worth Buying

Bitcoin price is trading just below $20,000 for the first time since January — a level that bulls definitely don’t want to lose.   Considering the increasingly intense crackdown on crypto by the United States and a macroeconomic disaster brewing, fear could discourage investors from buying this current dip.

2022: The Year The Secular Bitcoin Bull Run Could End

When the December 31, 2021 candle came to a close in Bitcoin, it didn’t just begin a new calendar year – it triggered a sell setup of epic proportions. Here is why the secular bull run in cryptocurrency could come to an end this year, and the first true bear market emerge.