🌟🔍 Cosmos (ATOM) and Its Potential Breakout 🌌🔮

5 feb

🔺 Cosmos (ATOM) in a Major Triangle: ATOM is currently navigating through a large triangle pattern, indicating a significant correction or a "big sleep" phase.

📈 About Osmosis Chain: Before diving into the analysis, it's worth researching the Osmosis chain. Recognized as one of the premier decentralized finance (DeFi) chains within the digital currency market, Osmosis hosts a vibrant ecosystem with numerous coins. Don't miss exploring its enticing ecosystem.

🚀 ATOM's Potential Growth: ATOM has a potential journey of approximately 370% to reach its lifetime high.

🛒 Spot Buying Strategy: For spot purchases, a breakout from the triangle and weekly trendline, with an entry trigger after surpassing $11.356, seems optimal.

🛑 Stop Loss Consideration: It's too early for a precise stop loss figure, but if a bullish trend begins from the current levels, a stop below $8 could be appropriate.

🔍 Strong Support Zone: Currently, a robust support zone exists between $7.5 and $8.331.

🚫 Early Buying Caution: Early buying is not recommended. It's better to wait for further correction or significant upward momentum in the market.

📉 Futures Position Strategy: I'll update you with a lower timeframe analysis for futures positions tomorrow.

📣 What are your thoughts and strategies regarding ATOM's current position and potential breakout? Feel free to share your insights and questions in the comments! 💬🌐 #CosmosATOM #DeFiEcosystem #TradeCityPro

📚 Remember: The cryptocurrency market's volatility requires thorough research and careful risk management. Always consider your investment goals and risk tolerance. 🧠💼