Hi dear friends, hope you are well and welcome to the new update on Atletico De Madrid Fan Token (ATM).
Previously we have seen that on small time period 4-hour chart, the price action of the ATM formed a bullish BAT and it was breaking down the buying zone. I was expecting that the price action may reverse and give us a chance to catch from the buying zone but it kept moving down.
After breaking down the leg:
Now after this drop it has completed another BAT on the bigger time period daily time period chart. We also have 50 and 100 simple moving averages support below the buying zone but as we are already facing the worst drop ever in the history of Bitcoin therefore, for the safer side we may wait the price action of ATM consolidate within the buying zone and buy after some consolidation.
Buying and sell targets:
Buy between: $20.48 to $15.27
Sell between: $32.90 to $51.55
Stop loss:
The maximum extent of buying zone can be used as stop loss, that is: $15.27 or the 100 SMA can be also used for this purpose.
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Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 237% and the loss possibility is 26%. But at this time it is a low-risk trade as we are already at the end of the buying zone.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
For more harmonic trading ideas you can join:
https://www.patreon.com/moon333
Link for Binance exchange, the best place to buy or sell Crypto:
