MtnMarathoner

4 hour bearish divergence - SHORT

Short
KUCOIN:ATOMUSDT   Cosmos / Tether
Massive 4 hour bearish divergence and double top on the 4 hour chart right near the previous ATH, where we would expect resistance. There's some small divergence on the daily chart as well, but those typically take longer to play out. Comfortable target points could be anywhere in range of below 40 down to the .318 Fib level at around 35, which I would expect to reach in 24-48 hours - price bounced hard off 35 area previously so could easily do so again. More aggressive targets if it breaks below 35 would be in the high 20's.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.