TheSignalyst

ALGO - Potential Bullish Continuation!

Long
BINANCE:ALGOUSD   Algorand / US Dollar (calculated by TradingView)
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ALGO is trying to break the orange support/resistance again.

on H4: ALGO is forming a symmetrical triangle in blue but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)

Trigger => Waiting for that swing to form and then buy after a momentum candle close above the gray zone.

Meanwhile, until the buy is activated, ALGO would be overall bearish can still trade lower.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

This analysis is done using RichTL indicator
http://www.RichTL.com

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