Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Cosmos ( ATOMUSD ).

The chart is self-explanatory. Cosmos price is at the edge of an Arc Formation as well as around the 200D simple moving average . The RSI and MFI is at or near the support line. The last three daily candles look like Three Black Crows Pattern ( bearish ). Though price has potential to bounce back up, there is an upcoming red Ichimoku Cloud resistance as well as the overall crypto market downturn led by Bitcoin . If price falls below the 200 MA and outside the Arc Formation, expect a potential strong support at the multi-month support line.

Included in the chart: Trend line , Support and Resistance Lines, RSI , MFI ( Money Flow Index), Ichimoku Cloud , 200 day simple moving average .

If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.

Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don’t trade based on my advice. Do your own research! #cryptopickk