Cosmos Bullish Divergence
1D tf ATOM Looks like we would a short term bullish trend in the next few days. Possible TP1 at 29.68 (0.382 Fib Line) TP2 at 32.61 (0.5 Fib Line).
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Divergence is when the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, or is moving contrary to other data. Divergence warns that the current price trend may be weakening, and in some cases may lead to the price changing direction.
Divergence signals tend to be more accurate on the longer time frames. You get fewer false signals. Divergences on shorter time frames will occur more frequently but are less reliable.
READ THIS NOTE!!
Market can do anything specially on crypto, because of Bitcoin, investors often consider Bitcoin as the reserve currency of the cryptocurrency market, similar to the USD in the global stock markets. When bitcoin (BTC), the largest cryptocurrency by market cap, goes up, other digital tokens tend to increase in value as well. When BTC declines, it's likely that other players in the space will drop at the same time.
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Divergence is when the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, or is moving contrary to other data. Divergence warns that the current price trend may be weakening, and in some cases may lead to the price changing direction.
Divergence signals tend to be more accurate on the longer time frames. You get fewer false signals. Divergences on shorter time frames will occur more frequently but are less reliable.
READ THIS NOTE!!
Market can do anything specially on crypto, because of Bitcoin, investors often consider Bitcoin as the reserve currency of the cryptocurrency market, similar to the USD in the global stock markets. When bitcoin (BTC), the largest cryptocurrency by market cap, goes up, other digital tokens tend to increase in value as well. When BTC declines, it's likely that other players in the space will drop at the same time.
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