ATOM/BTC Gaining After Strong Daily Candle

16 בינו׳ 2021

ATOM/BTC has seen an influx of some crazy volume in the last two days. Yesterday we saw a candle of more than 30%, today one of 10%. Historically, strong sudden candles like those indicate the reversal of a trend, I've marked a few of those candles on the chart.

Apart from that, Bitcoin seems in a bit of an uncertain situation at the moment. Altcoin btc pairs have historically seen some crazy gains after the initial uptrend of Bitcoin. Maybe we will see a new alt-season soon?

Also, I've marked two areas of resistance on the chart, R1 and R2. Place your targets accordingly. Happy trading!