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Watching ATOM's retest of previous support
I'm looking at $ATOM here, seems like it's retesting that 1.45-1.46 area which used to be decent support. If it can't push through and hold above that, especially on this kind of volume, I'm thinking we could see it head back towards the low 1.40s or even test 1.38 again pretty quickly. My concern would be a decisive break and close above 1.46 on higher volume, which would invalidate this current setup for me.
1 comments · 5 points
That's a good point about the volume needed to confirm a breakout. Do you think a strong wick above 1.46 would be enough to invalidate the retest theory, or does it really need to close above it?