Same for Algorand last signal ending stopped, let's see what it brings us on higher TF:
Buy Entry= 0.00002552 - 0.00002448
Take Profit= 0.00003084 | 0.00003484 | 0.00004132
Stop Loss= 0.00001918
Risk/Reward= 1:1 | 1:1.69 | 1:2.8
Expected Profit= 23.36% | 39.36% | 65.28%
Possible Loss= -23.28%
Fib. Retracement= 0.236 | 0.382 | 0.618
maybe it will touch next support in 2203 in coming days.
RSI is near to 30 and its a good sign, last two touch made it fly hard .
in 4H we can see good divergence
buy zone : 2400-2200
Bullish div formed at the 4h chart with a nice consolidation at the bottom range.
TP 1: 0.00003027
TP 2: 0.00003295
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1 more bag filling area left for me, I believe we might get there,
If i'm right and we bounce from that broken base,this is gonna be a long journey,
Risk management is the key as always
Stay safe & Yolo
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We can observe at this timeframe, a confluence of technical factors, that entail a setup which might drive this asset to a new movement. The details of our analysis are highlighted in the chart above.
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#ALGO - the price came back to the support level and forming a falling wedge. Also, the price is located very close to the support level. I expect to see a bounce and breakout of the descending resistance. Targets are on the chart.
You can see my previous ideas on #Algo.
Algorand had to pullback a bit after that big falling wedge breakout.
Let's see if it can breakout this small one also :
Buy Entry= 0.00004218 - 0.00004166
Take Profit= 0.00004390 | 0.00004513 | 0.00004600
Stop Loss= 0.00003994
Risk/Reward Ratio= 1:1 | 1:1.62 | 1:2.06
Expected Profit= 4.72% | 7.66% | 9.73%
Possible Loss= -4.72%
Fib. Retracement= 0.382 | 0.618 | 0.786