Over the next few months, it dropped to around $0.1648 (maybe $0.1618 on some exchanges) and then $0.097 at the Covid crisis.

Before the 2021 bull run, in November, ALGO's Support level was around $0.2247 (Point X of the harmonic ) before it began its ascend.

In early February of 2021, ALGO topped around $1.8427 (Point A of the harmonic )

This increase is by an exact amount of $1.618, the main number in the Fibonacci sequence.

Coincidence? I don't think so.

After it dropped to Point B of the harmonic , around $0.67, which is a very strong Support/Resistance level.

Notice the number - 0.67 is exactly 2/3 of 100.

If I multiply 0.6667 by 0.6667 I get 0.44444.

0.6667 - 0.44444 = 0.223, the EXACT NUMBER of Algorand's Support level before the bullrun.

OK, now this is getting crazy.

Algorand then increased by 161.8% (A-B) to create Point C (around 2.5589).

It then dropped to around $1.5144 - the 0.444 support level (which I have marked "S"). (Remember that 0.4444 number from earlier? Yeah.....)

The price was then manipulated up to around $2.99-$3.

This manipulation point is a whole new conversation involved with even more complex numbers and I think its best we avoid this in this argument, since it doesn't affect this current idea.

ANYWAY, if we ignore the manipulation which we usually do in these circumstances and create Point C as our harmonic level, we can see that BC is a +1.618% of AB.

Now if we draw a fib between ZERO and A we get 0.618 which is at point B

OR

if we draw a fib between $0.223 (Start of 2021 bull run) and $1.84 ish (Point A), we get the retracement value around 0.707 which is half of the value of 1.414, and 1.414 is the square root of 2.

So AB is (XA x half of the square root of 2) and the next move entails a 1.618 move of that figure.

Crazy maths...

Anyway, In a standard AB=CD HARMONIC PATTERN , we have 3 different variations, AB=CD , AB=CDx1.272 or AB=CDx1.618.

The most common one is 1.272, which is the square root of 1.618.

Now what happens if we measure BC x 1.272?

The answer is a price of ALGO of $0.1618.

As soon as I saw that it hit me.

That's the bottom.

$0.1618, the Fibonacci golden number will likely be the bottom of Algorand in this cycle.

So what is the profit target?

So I checked a few measurements.

I tried CD x 1.618 (if we hypothetically say that $0.1618 is the bottom of Algorand this cycle) and that gave me a figure of around $4.03.

I also did (All Time High minus All Time Low) x 1.272 (the square root of 1.618)

and that gave me a similar figure of around $4.03.

OH ALSO, one last thing...

Algorand is currently in a Bear Flag , the target is around $0.223-0.226 to Buy the bounce. It will go lower around Christmas time, but if you look at the 1.414 level (square root of 2) of the Bear Flag , it also reaches the same point around $0.1618!

ALGO had a great reaction from this very level. Keeping an eye on this for sure as it *could* be bottom

Comment:

Probably bottom