Our favorite altcoin Cosmos (ATOM) is now in an uptrend. The last time we suggested taking some profits and buying a dip, there was no dip, and ATOM just took off.
ATOM is once again moving into a resistance zone that might make us think it's overbought. There is substantial resistance at 5151. That level was the point of a prior breakdown in July and major reaction lows in May and June.
Bottom Line: If Cosmos can break through 5151, a rally back to the highs is possible. If you're long, leave it. If you're not long, wait until a breakout above 5151 and then buy a dip from there.
ATOM is once again moving into a resistance zone that might make us think it's overbought. There is substantial resistance at 5151. That level was the point of a prior breakdown in July and major reaction lows in May and June.
Bottom Line: If Cosmos can break through 5151, a rally back to the highs is possible. If you're long, leave it. If you're not long, wait until a breakout above 5151 and then buy a dip from there.
