2 min

Cosmos (ATOM) analysis: New rubric “Where is the BOTTOM?

Let's continue to analyze fundamentally strong crypto assets which I am going to buy at the very bottom. Now it's time to predict where the bottom for ATOM is gonna be.

Hello, everyone!

Let’s continue to analyze fundamentally strong crypto assets which I am going to buy at the very bottom. Now it’s time to predict where the bottom for ATOM is gonna be.

Using trading chaos approach I defined the Elliott waves with the order you can see on the chart. You can tell me that wave 2 is too deep, but I have the evidence that it’s correct. Look at the Fibonacci extension 1.61 – the natural wave 3 target. Price has reached this target perfectly. After that price has printed the wave 4 which is represented as a triangle correction. I think now ATOM is in wave 5 because it broke down the key fractal level.

The most important question: where is the gonna be the bottom. My answer is $3. There I will buy ATOM for the new bull run. This target was calculated according to the Tom Joseph’s methodology. Bill Williams linked to his approach that’s why I use it here.

Best regards, Ivan

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