After researching this crypto, I came away very impressed with the technology and the team. If you believe the best tech wins out in the end you have to take a look at ALGO. I'm positioning at the .30 level with the intent of holding for the longer term. Clear resistance at .315 which should be taken out soon. Any break and hold over .32 should be bought with...
so it seems to have bottomed out, now showing uptrend which has been tested 3 times and looking to go up on RSI as well. i pinned the bottom of beginning of the pump to the top of the end of the pump and so on and so forth until the end, then i got the average for the downs and the ups and put that on the forecast for the next pump which seems to be about to begin...
Currently going towards the upper trend-line of ascending triangle where the 200 DMA is, will most likely find resistance (possibly a pullback) there and upon break-out, go for higher up targets. I do not yet have an optimal entry..
I am not a financial adviser, do your own research!
This setup is pretty bullish, ascending triangle and tight price compression is usually a sign of volatility ahead. I have no price target for this thing, but I do expect a green lightsaber in the coming days.
My idea is invalid if we break below the triangle. Stop loss on this is very tight, place your bet at your own risk.
Part of my ongoing analysis of AlgoRand movements (see links below).
Algo retraced deeper than ideal, thanks to Bitcoin.
But it bounced EXACTLY where it was supposed to.
Now it is bubbling just under MASSIVE resistance.
It will take a wave "3 of 3" to break the hard ceiling.
The waves thus far do conform to such a structure.
IF we are to breakout, THIS is the...
Algo is looking to make a bullish rebound. On two previous occasions we saw the price in a downward 12345 wave while the RSI was reversing during the same time and the OBV was bottoming. We may see a similar event soon with the current wave in the 5th wave and will test the diagonal support (most probably with a wick). The RSI and OBV are showing similar...
Part of my ongoing analysis and trade setups (see links below).
Last call for Long trades paid out well.
We have since been watching the retrace.
Price is approaching some zones of interest.
It is possible that an ABC retrace is done, (look for an impulse up next).
Or it may dip below this support (longs stop hunt) before launching.
Of note: Algo has been out...
Algo have been going strong, as you know.
It has kept a strong Pulse to help it grow.
But soon it should be getting tired though.
Where might it Resign?
Headed to band Nine?
Just watch each Line.
every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as...
ALGO.USD preparing for a "Wave 3 of 3"? or just "3 of C of 2"?
AlgoRand has been a pleasure to trade, with Fibs guiding the way perfectly. (see links below)
But currently things are not very clear, and Bitcoin is having random spasms.
So any trades right now are fraught with extra risk, even for the cyrptoverse.
The "Holy Grail" of entries is a "Wave 3 of 3"...
Update to my ongoing analysis of AlgoRand moves (see links below).
Here I am with another messy chart, I know.
We bounced as expected and topped as expected.
Now comes the TOUGH call, many possible paths.
We look to be in a "wave 3 of C" at this time.
But the w1 and w2 were unusually tall so am unsure.
We should see one more leg down, perhaps a stop hunt.
AlgoRand bounced EXACTLY where expected (see idea link below).
But the bounce looks and measures "corrective" more so than "Impulsive".
Plotted are two scenarios for the correction to continue to new local lows.
Hopefully I am WRONG and we see a sudden surge like Algo does.
One good sign is Algo moving somewhat independently of Bitcoin.
But short of a surprise...
Quick plot to observe price action around expected supports
We have just hit a support zone, which should at least slow it down.
Am expecting one notch lower, but it could bounce here and now.
In my last plot below, the retrace played out roughly as expected.
The bounce took off from a zone defined by these same fibs.
But the bounce was almost vertical, so it may...
Priceline of Algorand (ALGO) / US Dollar has formed a bullish BAT pattern and entered in potential reversal zone.
Do use the potential reversal zone as stop loss in case a candle stick closes below this PRZ area.
I have defined targets using Fibonacci sequence as below:
Buy between: 0.2207 to 0.2093
Sell between: 0.2477 to 0.2883
Atif Akbar (moon333)
As we can see in the daily chart, the bearish rectangle has formed over the past two months. Today the price breaks down the low trendline of the rectangle, thereby confirming that the bearish consolidation phase is over, and the bearish downtrend has resumed.
On the technical side, the RSI has been an accurate indicator of market strength. Over the past two...