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cryptomius

ALGO completing Wyckoff accumulation phase

Long
Algorand Perpetual Futures (FTX:ALGOPERP)  
cryptomius  
FTX:ALGOPERP   Algorand Perpetual Futures
Support and Resistance Supply and Demand Pivot Points wyckoff wyckoffmethod wyckoffaccumulation wyckofftrading wyckoffspring wyckofftheory wyckoffanalytics wyckoffmarkup wyckoffevent
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supportandresistance supplyanddemand pivotpoints wyckoff wyckoffmethod wyckoffaccumulation wyckofftrading wyckoffspring wyckofftheory wyckoffanalytics wyckoffmarkup wyckoffevent
After a multi-month period of mark-down ALGO is exhibiting the final stages of Wyckoff's accumulation model:

1. Preliminary Support (PS) established
2. Selling Climax (SC) achieved
3. Automatic Rally (AR) occurred
4. Secondary Tests (ST) occurred
5. Price broke key resistance level (Sign Of Strength / "crossed the creek"
6. Price Backed Up ("walk back to creek")

The next phase is the mark-up phase.
This could correspond well with a mid-term rally off SPY support level.
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