Could Cosmos Rocket Again in 2022?? | ATOM Price Prediction

What’s up guys this is frank from alt Quinn buzz and today we’re going to do a Technical analysis on atom now atom has Seen a very very scary move down we’ve Broken some pretty important support Levels so we’re gonna see what the Meaning of that is when it comes to the Future price movement For Atom the daily time frame has two Important indicators which you need to Be watching if you are an investor or a Trader in atom so i’m going to show you What those are because these have Flashed in the past and they have meant Significant price action has occurred Thereafter so wait until the end of the Video for me to tell you which direction That price action would be leading us Towards of course we’re going to be Going from the monthly all the way down To the daily to really give you the Bigger picture as well as the more Granular view of course a lot of Altcoins have experienced double-digit Dumps over the past week so really now Is the time to be starting to look at The market as i’ve mentioned in the past Videos money is made during bear markets This is when we have 50 60 70 Retracements on altcoins and these are Usually representative of times to be Looking at entering the market now for Those of you who don’t know altquin buzz

Is first and foremost a crypto Investment research company and we have Been providing you numerous 100x returns Since 2017. so if you want to get in on that Action join our alt queen buzz access Group where we document up-to-date Research covering undervalued altcoin Gems nft minting opportunities and our Portfolio strategies so click the link Up above or down in the pin comment Section down below to take part in the Action today Also please don’t forget to like Subscribe and click the notification Bell so that you don’t miss any future Updates And finally please note that none of This is financial advice [Music] Okay so as mentioned the past seven days Has seen double-digit losses for a lot Of the altcoins bitcoin dominance is at Forty point one percent up about one and A half percent since the last time we Did an analysis a few days ago so it Seems that the market is getting a bit Scared of course we had that International monetary fund report which Might have scared the market a bit and Of course atom over here in 28th place Has seen 22.5 Loss in price over the past week which Is actually a little bit higher than uh

Several of these other altcoins so let’s Have a look and see what’s happening Obviously we’re going to start by Looking at the bigger picture and this Is very very important people because it Can be very easy to look at the shorter Time frames look at the past week or Month and think oh it’s all red but it’s Very very critical to look at the bigger Time frame here and clearly we can see That there is a very strong powerful Uptrend increasing bullish volume all The way since june last year Higher highs higher lows all right so This tells us that we should have a Bullish bias right we are not in a bear Market despite this massive red candle That we’ve had here so really what we’re Looking for is Support anywhere between here and Potentially all the way down to eight Dollars now i’m not suggesting that We’re going to get down there but what I’m trying to explain to you is that Even if we were to get down to ten Dollars or nine dollars or eight dollars We would still be in an uptrend and we Would still have a bullish bias still be Looking for a bullish entry into this Market so basically despite the fact That we’ve had some red we are still Looking for a bullish entry but of Course for that we need to look at the Lower time frames do an analysis before

We can do a price prediction before we Can Even consider entering a trade we want To see if there’s any reasons for why we Might be finding support at the current Level now in some of the ideas for Cosmos tether us on Tradingview.com they mentioned that we Are in a critical support zone now this Is because we have seen two lows at this Previous level at the 17.29 dollar level So there’s this assumption that we might Find support here again however i would Hesitate to call this a Massive support we did have support here But Really there’s no other confluence Suggesting that we would find support Here and we have had a break of the Weekly uptrend and not only that but we Are now officially in a downtrend ever Since january 2022 we’ve had a low a Lower high and a lower low so this is Officially a downtrend and so you have To be very careful if you’re looking to Buy here because of course the trend is Your friend and If you’re trying to buy now you’re You’re doing what’s called fading the Market which means that you’re trying to Find a bottom you’re trying to find a Top in this case of course we are in a Bear market on the weekly time frame

We’re trying to find a bottom now Usually the most prudent thing to do is To wait for a very clear sign of Reversal on the price action in other Words for example a pin bar where the Price comes to a certain level an Important level or below that level and Then takes us right back up but right Now we’ve just had this big bodied red Candle here with no real sign that we Are finding support here so we’re really Hoping that there will be support at the 17.29 level but currently there’s Nothing really to back that up certainly Not on the weekly time frame we can see On the weekly time frame The histogram over here which is these Red bars that we’re seeing is seeing a Bearish momentum which is increasing has Been increasing since the 4th of april Not to mention the fact that we have More bearish momentum now than we did at The end of february so really there’s Nothing to save us here on the weekly Not to mention also that on the weekly We currently have an rsi of 38.5 now we’ve seen an rsi on the weekly In the past of 34 and even if we were to Reach that we were still not at oversold Levels so i have to warn you that there Is potential for more downside here Given that we are in a downtrend already Okay before i get down to the daily time Frame quick question for you guys are

You holding Are you huddling atom or are you trading It And if you’re huddling it since when Have you been huddling it Let me know down in the comments section Below Now things start to look very Interesting on the daily time frame so On the daily time frame you can see that We are oversold on the rsi and we’ve Spent one day on the 26th of april being Oversold And then we spent another One Two Three Four days being oversold at the end of April and the beginning of may now What’s interesting is if we back test This to the last time that we were Oversold on the rsi and you will see That this was quite a while ago over Here back on the 10th of march 2020. now Here we had one Two three four five six Seven days of over sold and what Happened then well of course this was Actually a very very important bottom And so from from the low uh we actually Saw a a big move up here 755 percent that was the absolute bottom So now that we’ve seen five days of over Sold rsi there is some potential that we

Have something play out like what Happened on the 12th of march 2020 where We had an actual bottom now Interestingly we had another similar Bottom here again when the rsi was Oversold And this time was on the 28th of august Here we had i’ve counted it already we Had nine days of oversold rsi and of Course if you had gotten in at that Bottom again you would have had a solid 200 percent uh one sorry 190 return to The next high so it’s worthy to note That This daily oversold has been a pretty Powerful signal in the past however what I have to point out to you guys is that In the past the daily rsi reached a low Both times of 19.57 All right whereas currently we are only At 25.88 so this suggests that you know if We are trying to repeat previous Patterns we would expect actually Further downside in the rsi which of Course would lead Very likely to further downside in the Price action this is why i must admit i Am not bullish on this chart but it is Very interesting to note that the daily Rsi is showing us potential signs of a Reversal what we would want to see would Be at least another two days in the Oversold of the rsi and or coming down

To the 19.57 level if we do then there’s A good sign that at the very least we Will have a prominent bounce from that Extremely oversold level now something Else which i want to point out to you is The macd histogram so on the macd Histogram so really the ball is in the Court of the bears at the moment but Just taking you back to the weekly chart Something else which is worthy to note Is that we are currently just below the 200 ema now we did find support at the 200 ema Twice once in june 2021 and once in july 2021 again this of course was a very Very important bottom so The the So right now we actually have a break And a close below this blue line but What often happens is that you have a Fake out where everyone’s like okay this Is the end of the world we’ve broken the 200 ema we’re going to go even further And then the very next candle we see a Move up so if we were to see a very very Powerful move up on the next candle this Would suggest that maybe this 200 ema is Acting as some sort of support but again The story is repeating itself until we See some price action taking us up we Are playing a very very risky game if We’re considering entering at the Current level now when it comes to Support as i’ve mentioned we have the

17.29 Level this is the low that we had a Couple of days ago on the 30th of april Which by the way is the lowest price We’ve seen cosmos in the year of 2022. It’s also a price at which we did find Support a couple of times before so There is some hope that we find support Here and then of course the next level Of support is the 13.15 Level this is really an approximate Level it’s more of a zone which is Marked by the previous high over here at The 14.7 Level taking us all the way down to the 11.1 Level so the 11.1 to the 14.7 dollar Level is a zone obviously and i’ve Marked this level in the middle of that Zone to signify the next potential Support if we have another move down and Then finally of course the next major Support which has been the previous Massive massive support in the past Massive pivot point is the 7.83 dollar Level so before i get on to a price Prediction for atom usdt for cosmos I just want to show you this resistance Line which we are seeing On The daily time frame of course this is a Diagonal resistance now as i mentioned It would be a very risk-seeking trader Who would enter right now given that we

Don’t have any strong signs of reversal But this would be one of the first signs We’d be looking for of a reversal if we Were to break this diagonal resistance Line now when it comes to resistances we Want to look at the four hour time frame So for the four hour time frame the Most immediate resistance of course is The 18.69 Level but we would really want to have a Clean break above that level To think of potentially reaching the Next resistance which would be the 22.3 Dollar level but note that Even if we break this level it doesn’t Mean we will Be going straight up to you know the the 22.2 dollar level because we are in a Downtrend so reversals usually are not Quite that powerful unless we are Extremely oversold on multiple time Frames that being said this would be the First step if we break this 18.69 level Then the bear flag which probably a lot Of people are trading now which is Marked by this triangle would be broken Uh and you know people who are shorting The market would have their stop losses Placed probably above this level and Then we might see some move to the Upside then of course the then the next Important level would be the 22.3 level You can see that we had a support just Above this level and then a resistance

So breaking that would be somewhat Significant and then of course much more Significant than that would be the 25.09 Level that’s the previous daily high But of course we are a long way from That level right now Okay so now i’m going to give you my General price prediction i’m going to uh Stroke my magic Crystal ball to tell you what i think is Going to happen of course this is all About probabilities nothing is for sure This is just my personal price Prediction based off of the hour or so That i’ve spent analyzing this chart Okay so i’m going to give you three Scenarios and then i’m going to tell you Which one i think is the most likely now Of course the bulls are hoping that the 17.29 is the bottom and they might be Hoping that we really just have a Reversal from here probably would be More messy than that Before we have another move up now as You may or may not have guessed this is Not what i think is the most likely Scenario another scenario is that we Have a Low a sort of a powerful quick dump Which then Shows a reversal taking us right back up And what this would look like would be a Weekly Spike through this level but a close

Above the 17.29 level over the coming Days and then that would give us the pin Bar that we talked about that would tell Us that okay this 17.29 level is Important that although we’ve had a fake Out below it in fact this is would be a Good sign that yes we would have another Move up from there that’s the second Scenario now the third scenario is of Course that we continue this downtrend Again the trend is your friend A lot of people would say this is the Most likely scenario where you know Maybe we have a consolidation here since We’re oversold on the daily But then we see another move down to the Next previous important support level And then you know we have another Consolidation over there and i think That if we were to come down to this Level it’s probably going to it’s going To be much more probable that this would Be the bottom for this market because of Course again we are looking for a long Bias based on the monthly chart and then From here i suspect it would be more Likely that we would see a move up now i Think that this is actually the most Likely scenario that we actually have Another Notable move down because of the Momentum that we’ve seen on the weekly Time frame because we’re in a weekly Downtrend but that’s not to discount the

Possibility that we have a spike down to This level or a spike a few dollars Below the 17 level and then taking us Right back up there after but the point Is that my personal prediction is that We will see further downside price Action and really we have to wait for Following price action before we can Trade this market i personally would not Trade this i think that it’s somewhat Too oversold to short i think there Isn’t strong enough evidence that we Have a long position here but certainly If we were to Come down to the 13.15 level or if we were to have a a Wick taking us down below the 17.29 and Then a close of the weekly candle taking Us above the 17.29 that would be a very Strong sign that this in fact is an Important support all right guys that’s Been it from me for today i hope you Learned something i hope you enjoyed the Analysis let me know what you think of The analysis where you think the atom Price will be heading and please don’t Forget that we are still in a bull Market for a lot of these altcoins on The monthly chart you really don’t need To be too concerned about these big Moves down of the past week this is very Very normal and in altcoins if you want To have those 600 percent gains you need To be able to take the 60 losses and of

Course atom currently has had a Just above 62 Drop since the highs so be sure to keep An eye on the markets to see when we Find important price levels which i’ve Mentioned in this chart or important Price action like the pin bar which i Talked about which could lead you to Potentially wanting to enter the market With that being said don’t forget to Check out my previous videos i covered Engine and affinity a week ago you can Check out what i said about that a lot Of these altcoins are seeing somewhat Similar patterns but there are important Differences so if you want to learn more About technical analysis and about what I think will happen to the price of Engine and affinity check out that video With that being said guys I’ll see you in the next one [Music]