XTZ was an early runner this cycle, but if you look at the price ratio between XTZ and ALGO, it's sitting at the perfect confluence of long term horizontal and downtrend resistance. Unlikely coincidence. I'm going to take advantage of the price disparity and swap my entire XTZ bag for ALGO. Let's see what happens.
Keeping an eye on ALGO/BTC. It doesn't look pretty, but there may be an opportunity developing in the next week or so. We're currently testing the Support of a large Descending Triangle. Descending Triangles are bearish and so a break down (at some point) is expected. Combined with the recent bearish momentum and overhead resistance, I'm inclined to think the...
Hi dear friends, hope you are well and welcome to the new trade setup of Algorand (ALGO) with Bitcoin pair.
Previously I shared a long-term trading idea on Algo, which is still in play:
Now on a 4-hourly chart, ALGO has formed a bullish Crab .
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss,...
BINANCE:ALGOBTC has found support on the 0.5 Fib line and a rising trend line on the logarithmic scale. In this chart, I argue why these two signals are not strong enough and conclude that we should wait longer for a trade setup to emerge.
You can follow this chart here .
I hope you learn something from this video and if you like it, then please leave a like....
This is not a financial advice. Always do your own research and always put stoploss in your trade (SL) :) If you want more detailed info
how to study and read charts or just need help with some coin, just write to me here a comment, i will try to answer to everybody...
i can help you :) all for free, don't worry, BE HAPPY!
Algrand is located in an ascending major trend line and after reacting to the floor of this trendline, it is moving towards the target.
Due to the passage of a resistance and due to its strong momentum and ascending cycle, it can touch the specified targets.
The targets are marked with the help of Fibonacci and the resistance ahead
didn't go the way I wanted. My stop hit and didn't get a chance to re-enter due to the strong bull momentum. But it will undoubtedly come. I am now going to turn my attention to the BTC pair.
The BTC pair looks very bullish on the weekly and daily. That's why I like to be in a long position. If I get the chance to get in 0.00003, then I will go long. otherwise...
Dear Friends i have noticed possible Wyckoff accumulation forming with Algorand/Bitcoin market pair. Now in phase A at PS, AR, SC and ST the spread does not behave quite as described in Wyckoff method but the price still does appear to be bottoming out.
buy now at ~0.00003500
stop loss at 0.00000708
profit target 1 at 0.00006000
risk & reward ratio 1:1
I'm buying some ALGO here. Despite the BTC sell off ALGO has shown strength and the ALGO/BTC pair looks bullish. Algo quickly recovered its support at 1.54 and is back in range, I'm targeting 2.10, 2.82, and 3.22.