We have 2 patterns on top of each other going on right now. The extended bull flag that we've seen since the top of the big run, and a symmetrical triangle bounded on the bottom by the trend line established in January. Where it goes next is still dependent on what Bitcoin does.
@spiritedBear89562 Hi sir. You think we’re gonna drop further? Perhaps .60 range? 🤔 Appreciated
spiritedBear89562
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@Jasonwnyc1, If it breaks through that green line (which has been a strong line of support since the end of December) then the next likely major resistance, in my opinion, would be around $.77, as that was the previous ATH (not counting the $3.00 ICO that failed spectacularly) as it hasn't really been re-checked since the price hovered there for a few days around Feb. 5th. There was that one wick that made it down to $.83 which could count, but I think we're due for another bounce at that level for confirmation.
That said, if Bitcoin tanks and drops more than 30% it'll pull the Alts down too and then we could easily see the .50s again
spiritedBear89562
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@Jasonwnyc1, If you look at that second section of the chart above comparing ALGO to BTC and TOTAL2, both BTC and TOTAL2 stuck close to that green line trend and the recent dip was just returning to that level – which important to note has been an almost 300% gain.
Jasonwnyc1
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I see my friend thank you! You are certainly very generous to share this info and I feel grateful for your knowledge and insight. Much obliged sir 👍
Jasonwnyc1
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I think the market likes of both ways nowadays lol 🤷🏻♂️