ALGO Bullish Trend and "Future of Global Payments" Report update
Shwatup doe! Hope you are healthy, wealthy and blessed!
Here we take a closer look at ALGOUSD on the 4 hour chart!
ALGO has been ranging between $.36 and .47 over the past few days; gaining strong support at $0.38 and at the current level of .3950
Volume and Money Flow have been increasing dramatically...
If .47 is broken, we could see a quick move to the $.53 area, but we need to hold $.43 as support. I am bullish short term and long term, but cautious at this point as Bitcoin is in uncharted territory and the correlation is obvious.
DCA (Dollar Cost Averaging):
Look at fib levels for entry points at support and buy any dips at these levels. As price moves up and resistance becomes support, act accordingly. Use stop loss and take profit at resistance zones, and watch for breakouts that come back to test previous resistance as new support for entry signal as you don’t want to miss the move up!
I think a great entry is anything between .36 and .40 and a good entry is anything at or below .43 for the current price action, with stop loss just below support at .36 as to not get stopped out and miss the next move up! But that’s just my opinion.
Possible short term bearish scenario:
If $.47 cannot be broken on the next go at it and if we cannot hold the $.43 as support, AND If btc corrects and money doesn’t flow into Alts but Instead into fiat (which doesn’t really make sense to me because the US dollar is increasing in supply as I have already received my stimulus check as many of you have), it is possible that btc will take the whole market for a correction.
And as for “The Future of Global Payments” report, here is the link to download the 64 page report from ALGOrand.com —-
info.algorand.com/future-of-payments
This report from the DMI (Digital Monetary Institute) and OMFIF - (the Official Monetary and Financial Institutions Forum) , contains contributions from Algorand, who’s name and logo appears next to the likes of contributors:
MasterCard,
Citibank,
PayPal,
GrabPay,
Swift,
and more.
Notable quotes written by Steve Kokinos, chief executive officer of algorand:
"THE economy functions on complex systems that present challenges and opportunities when it comes to payment services for consumers, businesses, governments and financial markets. Legacy financial systems do not have the efficiency, trust or accessibility needed to advance global payments. Blockchains solve this by bringing trust to otherwise untrusted systems. (...)
Implementing trust through legacy methods and available technology is simply not feasible. The path to generating trust is through programmable systems and programmable money, or real money that is represented digitally. (...)
Blockchain offers a completely different way to organise and manage payments systems. It provides real-time, cross-border payments worldwide –
and even new ways to store value.
A platform like Algorand, paired with fintech’s latest developments and simplified developer toolkits, has the potential to take the lead in the race for payments innovation."
Thanks for reading and thanks for your support!
As always do your own research, I am not a financial advisor and this is not financial advice
and
ONE Love ❤️
Here we take a closer look at ALGOUSD on the 4 hour chart!
ALGO has been ranging between $.36 and .47 over the past few days; gaining strong support at $0.38 and at the current level of .3950
Volume and Money Flow have been increasing dramatically...
If .47 is broken, we could see a quick move to the $.53 area, but we need to hold $.43 as support. I am bullish short term and long term, but cautious at this point as Bitcoin is in uncharted territory and the correlation is obvious.
DCA (Dollar Cost Averaging):
Look at fib levels for entry points at support and buy any dips at these levels. As price moves up and resistance becomes support, act accordingly. Use stop loss and take profit at resistance zones, and watch for breakouts that come back to test previous resistance as new support for entry signal as you don’t want to miss the move up!
I think a great entry is anything between .36 and .40 and a good entry is anything at or below .43 for the current price action, with stop loss just below support at .36 as to not get stopped out and miss the next move up! But that’s just my opinion.
Possible short term bearish scenario:
If $.47 cannot be broken on the next go at it and if we cannot hold the $.43 as support, AND If btc corrects and money doesn’t flow into Alts but Instead into fiat (which doesn’t really make sense to me because the US dollar is increasing in supply as I have already received my stimulus check as many of you have), it is possible that btc will take the whole market for a correction.
And as for “The Future of Global Payments” report, here is the link to download the 64 page report from ALGOrand.com —-
info.algorand.com/future-of-payments
This report from the DMI (Digital Monetary Institute) and OMFIF - (the Official Monetary and Financial Institutions Forum) , contains contributions from Algorand, who’s name and logo appears next to the likes of contributors:
MasterCard,
Citibank,
PayPal,
GrabPay,
Swift,
and more.
Notable quotes written by Steve Kokinos, chief executive officer of algorand:
"THE economy functions on complex systems that present challenges and opportunities when it comes to payment services for consumers, businesses, governments and financial markets. Legacy financial systems do not have the efficiency, trust or accessibility needed to advance global payments. Blockchains solve this by bringing trust to otherwise untrusted systems. (...)
Implementing trust through legacy methods and available technology is simply not feasible. The path to generating trust is through programmable systems and programmable money, or real money that is represented digitally. (...)
Blockchain offers a completely different way to organise and manage payments systems. It provides real-time, cross-border payments worldwide –
and even new ways to store value.
A platform like Algorand, paired with fintech’s latest developments and simplified developer toolkits, has the potential to take the lead in the race for payments innovation."
Thanks for reading and thanks for your support!
As always do your own research, I am not a financial advisor and this is not financial advice
and
ONE Love ❤️
