If you are "buying" based on the how this chart looks like your odds are terrible. You would chase 10-50% "upside" gain with the 95% "downside" risk.
Algorand is just another alt with some s*itty leadership and tokenomics, but if you ask me it's marvelous for the whales to ride the reversal wave. Even if its going to zero it will still bounce around these prices.
This chart and the news that SEC is suing Coinbase, Binance, labeling Algorand as security is equivalent to BTC being accepted by Tesla at 60k. What happened next ?
Very professional work! A clear chart with a good description of the scenario. Thank you for sharing!!
elenaec
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Then why do you say LONG on the top instead of SHORT , i kind of agree with you 95% downside but why are you long on algo ????
dzoni893
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@elenaec, I'm not sure if we understood each other. You don't want to short ALGO in the final ending diagonal fifth wave to the downside. For the long you should wait for the confirmation, but in spot its great time to jump in