Let's continue to analyze fundamentally strong crypto assets which I am going to buy at the very bottom. Now it's time to predict where the bottom for ATOM is gonna be.
Using trading chaos approach I defined the Elliott waves with the order you can see on the chart. You can tell me that wave 2 is too deep, but I have the evidence that it's correct. Look at the Fibonacci extension 1.61 - the natural wave 3 target. Price has reached this target perfectly. After that price has printed the wave 4 which is represented as a triangle correction. I think now ATOM is in wave 5 because it broke down the key fractal level.
The most important question: where is the gonna be the bottom. My answer is $3. There I will buy ATOM for the new bull run. This target was calculated according to the Tom Joseph's methodology. Bill Williams linked to his approach that's why I use it here.
Best regards, Ivan