swilton

ALGOUSD requires no algos

Long
COINBASE:ALGOUSD   ALGO/USD
Alts are on fire and volume is really picking up on ALGO and there's decent upside remaining. There's a substantial amount of resistance below $0.5. The FOMO emojis on the chart mean nothing until it breaks clearly above $0.5. I will sell into my resistance zones and buy back in if-and-only-if it pushes above $0.5 with considerable strength. As of now, I'm long. Let's see what happens.
Comment: I believe $0.265 is the bottom here. There is very, very strong support in the $0.26 area. If it goes any lower, it should be very brief. I would only consider exiting this trade if a daily candle closes below $0.260. I expect the price to be above $0.45 in less than a month.
Trade active: I added significantly to my original position here. Next year is going to be a wild ride. Based on the recent market trends and volume accumulation in this range, I can't imagine any scenario where the price stays below $1 throughout the entire year. That's more than 3x gain from now. This sideways action is an opportunity to board the train before it leaves the station.

Comments

same waiting to sell some at .5 and hold some if it goes to .8
Reply
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