spiritedBear89562

spiritedBear89562

Looks like we're still in the downward channel. The red line is a 30 Day moving average which is a trigger for accelerated vesting of early backer awards (630 Million additional ALGO in circulation since the end of January) so expect another 40-50 Million per day until that line catches up or we fall back below. That lower line is an extended line of resistance...

spiritedBear89562 Updated 

3 touches each line forming a symmetrical triangle pattern. Giving us the breakout target of $1.97. Worst case, it breaks down and we have the long running trend from the peaks in Feb and August of 2020 acting as our lower support.

spiritedBear89562

If we get a breakout equal to what we saw last week, we'll blow through the $2.07 fib line

spiritedBear89562

Didn't retrace to $1.20 like I expected, but the 4hr MACD and RSI have been flat for a while with obvious resistance above and below these 2 blue lines.

spiritedBear89562 Updated 

Revised TA, looking to see a return to $1.20 Friday morning with a run over the weekend up to maybe $2.08?

spiritedBear89562

Maybe?

spiritedBear89562

It's a chart with some lines on it that I think look cool. This isn't financial advice