Explicitly aiming to break through the level of 0.885
Preload level.
Decreasing volumes.
But to go to the top you need to remove the feet and go higher (painted in white)
What are your thoughts?
ALGO has printed a adam and eve pattern at the bottom of a dip that started in mid July. ALGO reached its ultimate low at .50 and bounced hard up to about .85. The adam and eve formed just before the news that coinbase would add ALGO on August 14th.
There seems to be a lot of anticipation for ALGO. While most alts have taken a -5%/-10% hit today, ALGO has gained...
The 4 hr chart is recommending a long trade on ALGO based on the CCI. The targets for this trade idea are $.800 (+20%), $.900 (+34%) and $1.00 (+50%). Recommended stop-loss level is a breach and close under the previous swing low.
Wouldn't get my hopes up on this one, but ALGO/USDT is nearing the bottom of a wicked falling wedge. If BTC holds steady and ALGO breaks out, target could be 1.60.
In my recent ideas I suggested, that Algo had a breakout from a Falling Wedge and that more upside movement would follow.
And there was a move to the upside, but not very strong and not with a lot of volume. So now it seems to me, that there was no real change in trend yet.
The bulls are still hesitating. So I adjusted the wedge... Let's see...
While price made lower lows, MACD / OBV Oscillator made higher lows = Bullish Divergence. Selling power was drying out and finally ALGO broke out of the Falling Wedge as expected.
