As per one of my ideas, we were waiting for ALGO to approach the green support to look for buy setups. (attached below)
Then we looked for a buy setup on H1 (also attached below)
ALGO is still sitting around the green support and getting stuck in a range in the shape of a big ascending triangle as you can see in red.
Before we buy, we want the...
I underestimated Bittorrent and a few other Alts that have already surprised out of nowhere, when comparing a few patterns it's clear to where the top 100 mid cap alt will start to display similar 2017 price action in 3 waves over a 12 month range in correlation to Bitcoin.
When it comes to Algorand, it's obvious to see we're too early.
✅ short: 1.10 - 1.25 ✅
1- 80 cent
2- 73 cent
3- 65 cent
💵 Trade Size: 3-5% of Portfolio - leverage: X3
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The market is green right now, we may see a nice push up too $1.50 if this momentum continues and the Volume picks up. There is a bunch of Positive news around Algorand right now, more and more projects and integration into Cities and Businesses every single day.
*Not Financial Advice
As you see we just touched the lower band followed by an engulfing green candlestick which is a great sign for a bull push towards the top of this wedge pattern.
We'll need to see the Volume pick up if were expecting to break out of this wedge & get on a Bullish Run. If BTC continues to dip over the next 24 hours then we may not break through the top resistance,...
#ALGO/BTC TA Update:-
#ALGO/BTC currently trading at 2030 Satoshi
And our entry was 1900-2000 Satoshi as per last chart.
According to my TA #ALGO now Trading at All time strong support.
As per chart 1900 Satoshi is strong support but My entry zone will be 1600-2000 Satoshi .
I will accumulate if any big dip.
Entry:- 1900-2040 Satoshi
Notice the repeating pattern from March 29th Midnight GMT. This is the bottom. Alt season is about to start as Bitcoin Dominance plummets. Ripple and Institutional Blockchains like Algorand and Vechain are about to take over the space.
This is it, the great reset is set to start as early as March of 2021. Check IMF reports, a massive Gold sell off is coming.
Significance of Master Candle
Master candle signifies a point in time where the price falls into a tight range and both bulls and bears are struggling to move out of this range.
The 4 child candles following the master candles represent the state of dilemma between bulls and bears. You may also choose to look at only 3 child candles and ignore the 4th one.
Silvio Micali is the founder of Algorand and a professor of computer science at the Massachusetts Institute of Technology. For his important contributions to the theory and practice of secure two-party computation, electronic payments, cryptocurrencies, and blockchain protocols, he received the Turing Award in 2012. As a result, he is considered one of the world's...
ALGO is currently trading above the support zone of $0.9774 and below the resistance of $1.2670. If it can break this resistance zone, we could start seeing a move towards $1.3944, $1.5599, $1.7706, $2.3793 and $3.3642. Failure to hold the support at $0.9774 could lead to a drop towards $0.7813.
ALGO has completed the fourth wave of an impulsive move to the upside.
Further upward movement is expected in wave five towards previous structure.
This is a low risk buy setup since any price closing below the top of the first wave would invalidate the pattern, giving a very certain stop loss for this trade.
I have marked this using the red line on the graph....
technically, we wont see Algo under 50 cents again unless bull run is over n actually it is not yet.
Algorand fundamentally from strong projects that have a great technology that's why it jumped from 8 cent to $1.80 !
82 cents is strong support n will hold in the worst correction scenario.
Algorand is a prefect choice for long term investment, it may rich 6$ n...
ALGO finally broke out of the descending trendline, we are looking for a potential x2 midterm. Patience is a virtue. A retest of the trend might be expected. This will remain positive as long as we don't have any dump on BTC side.
Please do your own research and analysis, this is not a financial advice.
ALGO has been showing off the power of the Chaos PRZ (4.669 and 8.77 fibs) as a targeting tool since early 2020.
Having successfully navigated the reload zone in March, this is one we've got a position in for what looks like could be a very strong 2nd quarter for altcoins.
The timing of arrival at the. 8.77, as drawn on the chart is arbitrary. The white circle +...