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Algo held up well with BTC flopping. But still looks to be in a bearish formation. I hope it kicks off the 4 hour and starts climbing again. But short is the most likely scenario. Good luck!
It broke a key resistance on the 1 hour and is gaining support on an ascending triangle right now. its next resistance is .80$ that is current take profit or until it loses upwards momentum.
Any thoughts? Which way will we break when we get there? Let me know. I think we break up because I choose to believe we will. :) Algo been doing it's own thing. Hard to be positive on much of anything these days. Come on, man. Can't we have a little fun?
Algo bullish H&S pattern making move higher up into our parallel channel! -sorry chart was done on my phone if sizing is outa wack - btc is about to make another leg up as well, be ready traders!
KEY Price inflection point for ALGO/USD. FED tonight as well, so shall be very interesting for all asset classes.
My initial thought was about .65 pivot after the last correction but overthinking and a busy day with errands blindsided me into hoping for a drop even lower, therefore I did not open an order and missed a chance to make a sweet little profit as it did move from .65 to about .69 before a tiny retrace back into the .67s. The volume is very very steady at a normal...
The recent pump from FIFA was nice, but the market is not going to support this. ALGO is the coin, but there are realities to be reckoned with. I DCA, buy the dips, it all works out well. Good health and fortune to you!
Algorand (ALGOUSD) has completed a strong 3 day bullish streak coming close to the 1D MA50 (blue trend-line) again for the first time since the first week of April. Despite this green short-ter display, it is not a buy opportunity yet, as on the medium-term it remains within a Channel Down (dashed lines) and on the long-term it has broken below the Channel Up. A...
buy on the pullback? btc could ruin this but also a good chance of algo moving to the upside of the channel!
I am learning, please do not take my advice at all. LOL.
I think based on the support levels, trend lines, 200 day & 14 day MAs and fib levels we will see an upward click back up toward last nights highs and beyond. After stopping out of my position just before the earlier correction dump, I am averaging back in slowly with SL in place in the event this does not confirm. I am only creating / publishing for my own...
The correction after the growth happens on lower volumes. The 100MA crosses upward of the 200MA on the 30m Timeframe. I expect a fixation above the support level before the continuation of growth.
Algorand has today come forth with huge news of a fifa deal that will give them huge exposure and an opportunity to govern FIFA's crypto development strategy. Interested to see how this plays out.
#Algo is getting ready for a bigger move and forming bullish Divergence on weekly timeframe is a confirmation for the same
Algorand divergence creating a possible bullish step-up back into parallel channel, this will most likely happen when our daily stoch rsi is back on the up and up in the next few days. Referenced below is algorands divergences that have played out in the past. Still bullish on algo, just a long winter!