Hi guys, this is a Macro outlook on Algorand from the daily logarithmic chart. I titled it double your money because I believe we are either in a leg three wave or leg 5 wave on the macro perspective heading towards the $3 mark. If we are in the third leg, well we can be a bit more bullish on our macro target and say we are heading beyond the $3 mark. If it's also the 3rd leg of this trend, there is a chance to dip back down below the mean channel which would present a good buying opportunity, however don't be waiting for it to happen. I would be dollar cost averaging this idea, and also reinvesting my stake back into ALGO as we trend higher. I also believe if we are in the leg 3 of the elliot wave, we may see a cup and handle formation if we complete the 3rd leg at the all time high. The 4th leg would then be the handle.
Please feel free to comment your opinion on my chart, always keen to learn more. Thank you :)
Please feel free to comment your opinion on my chart, always keen to learn more. Thank you :)