Algo forming a cup & handle??

Algorand / U. S. DollarKraken

Description

⋅ Jan 31, 2021 8:11 PM

Algo seems to be forming a cup and handle pattern on the daily time frame. Continuation pattern.

This could take some days to play out but patience is key.

A breakout could give us around a 200% move.

Perfect buying opportunity will be the $0.50 area where I will be looking to accumulate.

Stay safe trading.

Comments

pb191677

⋅ Feb 5, 2021 8:42 AM

Hi, Algo has increased nicely and is now at 78c. What’s your view on the likely way forward from here?

Ryecatcher

⋅ Feb 5, 2021 4:51 PM

Hi, we have some resistance at the $0.90 level I expect some ranging here before we eventually break it, a drop down towards the $0.76 level would be a great buying opportunity.