Algorand has consolidated over the last week in the form of a falling wedge, which has broken out to the upside today. We are starting to see a slight uptick in volume today on the break which is encouraging. This should trade back to the previous highs seen in September of approximately 0.41. stop close below 0.30
After a multi-month period of mark-down ALGO is exhibiting the final stages of Wyckoff's accumulation model: 1. Preliminary Support (PS) established 2. Selling Climax (SC) achieved 3. Automatic Rally (AR) occurred 4. Secondary Tests (ST) occurred 5. Price broke key resistance level (Sign Of Strength / "crossed the creek" 6. Price Backed Up ("walk back to...
This is an Update to a previous ALGO setup of the same sort except the pattern has now further developed with the addition of a Double Bottom of the PCZ. The Bullish Targets and Stops remain the same as the previous setup
I think Algo will go to one dollar because of fundamentals and it broke out of a down trend and the market conditions are good thanks
We have some Bullish Divergence on the RSI and will likely Develop some on the MACD i already entered at lower prices from the bigger more MACRO setup i posted for ALGO but this looks to be a good secondary entry that could perhaps even take us above the hourly targets and into the weekly targets.
We have a bit of Bullish Divergence on the RSI and MACD at the PCZ of this shark best case scenario is it comes up to make a Higher High at the 1.618 Extension
Hi there, it will possibly come, lm waiting *long position* on ALGO , type: swing / SPOT ⚠️ Entry position 1 : 1.3793 ⚠️ Entry position 2 : 1.3542 🚀 Take Profit 1 : 1.551 🚀 Take Profit 2 : 1.66 🆘StopLoss/Average: wait n see Validity signal : 48 hours. My rules on trading: You can also read my chart on those line, orange as entri, green as take profit, and red as...
range established from deviations after tapping liquidity +- extremes, currently byllish from sfp
If we can confidently break above the 50 line on the RSI we may see Algo go up to test near the old highs.
NFI EDUCATIONAL IDEA. We can try short from OTE fib 0.705 level
Algo is right above support and showing a bullish harmonic here and somewhat of a morning star candlestick reversal it's worth a shot trying to catch a move up to the next resistance zone from here.
Looking for new highs to ~$#.25-3.30 Good change to retest former resistance around 1.75 prior to blast off
- consolidated for 1,5month - slowly upward sloping price - flipping 2USD zone as support will open the upward potential - 1.236 extension of summer run-up - btc pair rolls/rolled over
On the daily chart is a symmetrical triangle forming which should lead to a nice up move if price breaks through.
Bought ALGO at $2, this is now stop loss, losing this would see a dump. I've already taken profit 1 (and renamed the other 4 for the convenience of this chart) at the high but I'm trying to journal more on tradingview as I abandoned it a while ago and want to resurrect it a bit. TP's are fib pulls. I think we'll probably stay above R2 on a pullback, unless bitcoin...
We are Near a 1.618 Retrace which will be the PCZ of our ABCD Harmonic here and i'm actually not sure if it will be strong enough to actually hit it but if it does that will be a very nice place to catch the reversal.