ALGODear All
ALGO/USDT
Retest / of the breaking level
between 1.8$-1.5$
this is only for Spot Trading.
Regards
Trade ideas
Algorand ALGUSD - Awaiting volume crossoverHello Traders.
Good bullish daily candlestick pattern.
We have a very strong bullish segment. We know it is very strong because the long volume of the accelerated volume indicator, the green line (bullish volume is very strong).
Then we have a correction of the bullish segment where the short volume (red line of the accelerated volume indicator) is not very strong, in fact, the volume is declining.
Right now, the price is in the area of the average and in the area of the 61.8% fibo of the strong bullish segment. Finally, the volume lines are about to cross, with the green line (buying volume) returning to dominate.
As soon as this pattern happens we will have a long entry, and as long as the buying volume dominates the selling volume we can be inside the market.
Have a good day.
#ALGOUSD. Get ya shorts on, or get get caught naked.Have you already shorted ALGOUSD today ? If not, take a nice cup of coffee, get up (or the other way around), wipe your eyes and set a short on it.
Why?
Time has come. That's why. We're at the end of a massive pump . ALGOUSD RSI (1d) has been as high as today only 4 times in its lifetime, and 3 out of 4 were excellent shorting opportunities , and the 4rd with 25% down still a good one.
If you're risk lover, wait it 'till the price crosses the 0.768 fib line. But don't wait too long - tomorrow around six you could be late. If not the price moves under the current short term trend line even before.
Of course, this is not a trading advice, just my private analysis as well as a text for entertainment purposes.
ALGO repeating previous runHad today marked for the dip since early September.
Feel free to post thoughts and comments!
ALGO is a buyI am buying the dip since this morning with only 30% with idea of adding more once bottoming is confirmed.
All eyes on SPY, nothing else matter. If SPY dip is bought, everything else will be bought.
Right now, SPY broke an important trend line so very cautious going forward but also letting my FOMO make some of the decisions.
I do like ALGO here though as long as i get my bottoming confirmation.
Algo is Bullish to the bonesALGO IS SO BULLISH, it's forming not one falling wedge but two wedges (technically bullish patterns) 😀...No matter how you look at it it's bullish, with expectations to reach $2.80 min or $3.00 after the breakouts upwards.
Algorand has been on an uptrend lately and topped charts as the best performer coin multiple times. With the price climbing to heights not seen since early April, showing significant volatility over the last week. As a project algorand is very good and of course you can hold for long term. (better days are coming for sure)!
Good luck 🤞
Algorand's (ALGO) Bullish IndicatorsALGO or Algorand has one of the stronger looking charts in the crypto space
With it's recent ascent from $1ish to $2.50ish, ALGO is currently undergoing some price correction
What's nice about its ongoing correction is the Volume Contraction Pattern (VCP) on its daily volume, a bullish sign.
The previous resistance that it broke, $1.80 ish, is now acting as support as evidenced by candles bouncing from this level whenever it nears that price
Let's see how this will play out.
Good luck!
Deep correction for ALGO on the horizonThe daily MACD just manifested a Dead-cross. Comparing it to last time, as highlighted in the picture, the price can revert to MA100 or MA50. A target price of 1.5$ does not seem to be out of reach.
Alogrand Bull Flag Pattern $ALGOBullish set up with $1.75 acting as the floor. I'm looking for price to break the triangle to the upside with a move above $2.25 to signal potential to see $3-3.50
Algorand ($ALGO) New FIBAlgorand ($ALGO) BULLS applying some buying pressure yesterday and the start of today's trading candle
Pump up formation for sure, watch for climaxIts a well known formation. Watch out for climax, it could get to be a bit sticky at the end. WAZZZZZZUPPPPPP
So its back in, its back onLets go. Update to earlier algo analysis. Dropped down to support and made a recovery back to the wedge and above support trend line, shit it lookin good
Algorand descending wedge breakoutScalping off Algorand.
Took my position at $1.90, planning to sell around $2.05-$2.10
Algorand ($2.75-$3.00 Scenario)Algorand has seen a recent uptrend, and is testing $2.00-$2.15 (the handle of the small cup-and-handle pattern). The next major ceiling for Algo is $2.22. If Algorand is able to break out of the $2.43 price barrier, I would expect an immediate rise to $2.50-$2.60...with possible resistance at $2.65-$2.75.
Algorand ($2.75-$3.00 Scenario)Algorand is testing $2.00-$2.16 with a temporary ceiling at $2.22.
The ceiling could have been caused by multiple or several large sell orders placed at this price marker.
Floor at $1.86 with support at $2.00.
Additional Notes: Algorand's Community Governance goes into effect on October 1st, 2021.
Update on the algo chart from before: Algo didn't like my takeHit off support at the larger/stronger trendline in the flag/pennant formation, perhaps plays out a bit longer but the weekend still looks to begin a uptrend.
Algo Uptrend on the lines, looking to break by tomorrow nightI believe this will break up and form a mutant cup and handle in both the chart and volume. My dip buy target was 1.60 cents but it did not reach my desired level, still looking for a test of that level, but the bullish bounce means most likely we see uptrend continue this weekend. Good luck. Not financial advice. All lines are hand/eye drawn and not taken from any indicator other than rough eye.
Algorand (possible breakout to $2.75-$3.00)Algorand is currently testing the bottom of the handle? Could we see a move up to $2.75-$3.00 next? The Salt Conference in N.Y has ended, and this could very-well bring heavy volume into the crypto space, with Algo being a key-backbone to the ever-developing ecosystem.
Algorand (possible break to $3.00)The Salt Conference in N.Y is setting up the Crypto Space for heavy volume and adoption. Algorand is holding steady at $2.00, and could see an uptrend within the next 48-72 hours.
Chart Patterns: Algo is forming a nice cup and handle pattern, and could see a drop to $2.00 (which would be the new "floor.) Price target is around $2.75-$3.00 per Algo.
Possible Breakout upwardAlgo is very bullish now with possible breakout to $2.20. Algo is forming a huge rising wedge witch could take it to $2.80-$3.00
ALGOI have ALGO breaking up in a minor W5 as a sub wave of the Intermediate W3 heading towards $3.21. We just took a long leverage trade in my group. GL guys. Big Mike loves all of you.
