One of the most exciting altcoin charts is Cosmos. There are many things to note. Some are bullish , and some are bearish .

On the bearish side, ATOMBTC rallied and then failed, right at the 23% retracement of its June - September down move. Looking at this, you could make an argument that ATOMBTC will return to its low or make a new low.

On the more constructive side, we would like to see ATOMBTC hold support near its 21-day moving average near 2687. The 21-day moving average has been a huge inflection point for ATOMBTC since June (green arrows). A break of the 21-day moving average started the down move in June. Each time ATOMBTC revisited and then failed at the moving average, it turned around and dropped again.

Bottom Line: It will be interesting to see if a drop to the 21-day moving average will bring in buyers. If it doesn't, then ATOMBTC may be caught in the altcoin tax-loss selling vortex . Conversely, if ATOMBTC does bottom out near the 21-DMA, dip buyers may step in.

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