$ATOM The price received its first local reaction from buyers and bounced from the low of 1,483 USDT to 1,511 USDT.
Since the low of the first wave of the sell-off stopped at 1,483 USDT, our trap at 1,470 USDT is still sitting among the open orders — it missed being triggered by just 1.3 cents.
What this move means in practice:
1. First bounce wave: After such a sharp red sell-off, the market always makes a brief technical bounce upward, which is what we’re seeing on the candle now.
2. Likelihood of a retest (a second dip): In most cases, after the first bounce, big players make another run at the low to take out the remaining stop-losses. If Bitcoin takes another step down into the $78,000–$78,500 range, ATOM will easily break below 1,483 and pick up our order at 1,470 USDT.
Since the low of the first wave of the sell-off stopped at 1,483 USDT, our trap at 1,470 USDT is still sitting among the open orders — it missed being triggered by just 1.3 cents.
What this move means in practice:
1. First bounce wave: After such a sharp red sell-off, the market always makes a brief technical bounce upward, which is what we’re seeing on the candle now.
2. Likelihood of a retest (a second dip): In most cases, after the first bounce, big players make another run at the low to take out the remaining stop-losses. If Bitcoin takes another step down into the $78,000–$78,500 range, ATOM will easily break below 1,483 and pick up our order at 1,470 USDT.