ALGO/BTC (Algorand)
- In 4 hrs Timeframe, Forming Falling Wedge Pattern (Bullish)
- May Be Test the Support Area Before Move Up.
- Falling Wedge Breakout Expected If Hold then Bounce Back From Support..
Buy Around 500 - 520 Sats
Sell Targets 560 - 620 - 680 Sats
Stop Loss Below the Support..!!
Please, give us your opinion in the comments!
If you...
It seems like we have completed correction of last attack and 0.618 fib. level is a good support. Still has an increasing RSI trend line and still oversold daily.
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...
ALGORAND hit the exchanges on Friday, including Binance. The ICO price was $2.40, already sitting around $1.40. That's a 41% drop in 3 days, ouch!
Usually, we see at least 1 nice green candle day during the first 5 days of a new listing. ALGO hasn't had that yet so it could be overdue. This is an extremely speculative play though based upon psychology and zero...
Not much history for that coin so TA not really reliable. But at least it may give some idea for targets in case of growth. Here they are. Don't thank me, just push like =)
