ATOM has been trading in a strong up-trending channel ever since we bottomed in June.
However, over the last couple of days this bullish channel has been broken and ATOM is trading relatively bearish.
Whether this is just a minor correction, or a much bigger one, remains to be seen. For now, the $10 support is holding. As soon as we can get a close below $10, I'd expect more bearish pressure.
$9 and $7.5 are my bearish targets, $7.5 for the case we see some sort of capitulation.
However, over the last couple of days this bullish channel has been broken and ATOM is trading relatively bearish.
Whether this is just a minor correction, or a much bigger one, remains to be seen. For now, the $10 support is holding. As soon as we can get a close below $10, I'd expect more bearish pressure.
$9 and $7.5 are my bearish targets, $7.5 for the case we see some sort of capitulation.
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