Trading idea for ALGOUSDTIF ALGO keeps itself over current horizontal support area, it may revisit its previous resistance levels soon.
Algorand
ALGO - Easy Buy Setup ALGO is testing a new bottom as the downtrend looses steam, this is the perfect time to watch for trend reversals.
The bottom rectangle is the area in which a candle must close to confirm a double bottom pattern. After that, the local resistance needs to be broken to confirm a reversal pattern.
If so, a buy setup forms on the buy zone retest.
Target: $1.35 - $1. 40
ichimoku trade : short positionichimoku signal:
short position:
enter at 0.93$
stop loss kijunsen with buffer
Algo looks Bullish to say the least. Long term hold on the best blockchain, personally don't see any reason it can't do 10x from here and beyond.
Have a look ... +150% potential for Algo 👌technically, we wont see Algo under 50 cents again unless bull run is over n actually it is not yet.
Algorand fundamentally from strong projects that have a great technology that's why it jumped from 8 cent to $1.80 !
82 cents is strong support n will hold in the worst correction scenario.
Algorand is a prefect choice for long term investment, it may rich 6$ n $9 maximum in the near longterm.
but we still have a great potential to go up.
Try to have some in ur portfolio.
✅ Buy: 1.25 - 1.00 ✅
🎯TARGETS:
1- $1.58
2- $1.80
3- $2.40
4- $3.30
💵 Trade Size: 5-7% of Portfolio
🚫 Stop loss: daily candle close below 0.825
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Thank you.
Bitcoin Possible Playout?Something that could play out for BTC.... I have no clue what is going to actually happen.
NOT financial advice.
$ALGO - 1W close above 1.47 all we needLets fill all those down candles
Close above 1.47 on 1W and we increase the chances of doing so a lot
ALGO [Algorand][USD] - Value Entry areas & Value Target areasI've been charting the stock market since the early 2000's and I've just recently gotten into charting Cryptos over the past few weeks and I'm starting to understand the behavior patterns a bit more now.
I've noticed about Cryptos are that after they make an initial spike, they'll fall back down and settle into this low level where they just hang out for days/weeks/months until it's ready to make it's next run and when it does, it just shoots up in a straight line. So there usually isn't a gradual climb. In fact, the most recent climb from the support is about as good of a gradual climb as you get before it takes off and then it may never come back to this area again.
This is what I see in ALGO, based off of the recent price movements.
ALGO [Algorand] - Value Entry Areas I've been charting the stock market since the early 2000's and I've just recently gotten into charting Cryptos over the past few weeks and I'm starting to understand the behavior patterns a bit more now.
I've noticed about Cryptos are that after they make an initial spike, they'll fall back down and settle into this low level where they just hang out for days/weeks/months until it's ready to make it's next run and when it does, it just shoots up in a straight line. So there usually isn't a gradual climb. In fact, the most recent climb from the support is about as good of a gradual climb as you get before it takes off and then it may never come back to this area again.
This is what I see in ALGO, based off of the recent price movements.
ALGO - expect a rallyHello everyone,
Today I'm covering Algorand (ALGO), both BTC and USDT pairings compared, chart maybe unclear for some but let me explain what it tells me.
VS BTC I see a mid-long term uptrend forming, MACD and MA's on the ALGO/BTC chart tell me it's time for Algorand to start flourishing.
Versus Bitcoin, Algorand got left behind in the run but is now testing new levels and holding new highs, this you can see on the daily chart. For this example/idea I used the weekly chart to show the potential hiding in this pair. The reason I dare to make these statements is when I look at the USDT chart.
VS USDT we already saw a nice run and hold the new price range very steady, been consolidating for since the middle of February and all oversold indications have been reset, when looking at market cycles of other coins I can start to compare and see what the possibility really is.
When using the FIB extension on the daily TF and compare these VS the BTC pair I see 4 big targets in a 3-6 months time range.
- 0.618 Fib extension: $2.82
- 1.618 Fib extension: $4.43
- 2.618 Fib extension: $6.05
- 3.618 Fib extension: $7.67
This is not a 2 day trade and this is no advice. Staying cool and holding this coin tight is what I'm doing personally.
Ride can be bumpy with some deep corrections.
Good luck
The curious case for #ALGO #AlgorandSteady as she goes nice and slow right to the moon... eventually.
Slow accumulation channel for the inevitable future?
and I'm okay with the steady gains in fact i'm down right happy.
Trending with on chart analysis, more and more folks are jumping into the passive income train through staking
(ie high dividend re-drip investments).
This is quickly making ALGO a go-to coin for hedging a savings account against fiat.
I will be watching #Crypto Algorand's career with great interest.
What do you think about COINBASE:ALGOUSD future?
And dont forget the COINBASE:ALGOBTC looks just as promising!
-Cheers
Bruce
ALGO - Buy Target: 2550 Sats - Sell Target: 4550 SatsDISCLAIMER: This is NOT financial advice. My content is meant for entertainment and general information purposes only. It's only my opinion and should not be taken as financial, legal or tax advice. I'm not a licensed financial planner or investment advisor. Cryptocurrencies carry a lot of risk and you could lose everything when buying and selling them. I will not be held responsible for any losses or gains as a result of my content. Please DO YOUR OWN RESEARCH before making investment decisions.
ALGO OversoldI certainly think ALGO is oversold. I myself am waiting for the MACD to break above the signal line using the 1Hr interval timeframe. I will feel safe about buying more ALGO once this happens. I think Elon Musk has created a lot of awesome opportunities for those who remain calm.
This is not financial advice =)
sometimes it's too obvious - long algothe simplest line. it's bouncing on top, it's going to go up. simple.
Reversal Pattern Repeating - ALGO is about to go on SaleThe local trendline was broken this week and failed to recover.
This is similar to what happened less than a month ago before the price dropped to below $1.00.
A 4-Hour Close below the 30-day MA would confirm the reversal, otherwise massive volume would be needed to continue the current trend.
Target 1: $1.19
Target 2: $0.96
Algorand (ALGO) - May 12Hello?
Dear traders, nice to meet you.
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(ALGOUSD 1W chart)
(1D chart)
We should watch for movements that deviate from the 1.32179365-1.72007755 section between around 11th and 16th May.
In particular, it remains to be seen if it can rise above the 1.47009413 point.
If it falls at the 1.18903235 point, a Stop Loss is needed to preserve the profit and loss.
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(ALGOBTC 1W chart)
(1D chart)
2374 Satoshi-2792 We must watch for any movement that deviates from the Satoshi section.
In particular, it remains to be seen if it can rise along the uptrend line.
If you fall from the 2374 Satoshi point, you can touch the 1970 Satoshi point, so you need to trade carefully.
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It is advisable to trade at your average unit price.
This is because if the price flows below your average unit price, which was on an uptrend or downtrend, there is a high possibility that you will not be able to earn a large profit due to the psychological burden.
The center of every trade starts with the average unit price you start trading.
If you ignore this, you may be trading in the wrong direction.
Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, so that the money that ultimately corresponds to the profit can regenerate the profit.
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** All indicators are lagging indicators.
So, it's important to be aware that the indicator moves accordingly with the movement of price and volume.
Just for the sake of convenience, we are talking upside down for interpretation of the indicators.
** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the conventional stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator that oh92 disclosed. (Thank you for this.)
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.)
GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day.
G1: Closing price when closed
G2: Cigar at the time of opening
(Example) Gap (G1-G2)
Support Failed, What Happens Next?
ALGO blew right through the support on the retest.
After a brief drop down to $1.31, the price has stabilized and returned to around its 1-month average price.
Now, we either see a breakout above the previous support and look for a buy setup on the retest or we bounce back down to a lower support level .
Given the average price over the past 30 days is $1.38-$1. 40 , I am thinking this might be a good entry point.
There needs to be confirmation of strong support if/when the price drops back down to $1. 40 and it will give ALGO a chance to take off.
*Read* Algo Strong Bullish Indicators (Early Stage)On 27th Algo entered 0.382 on 27th of April as since been moving between 0.382 and 0.236. I used FIb Retracement on uptrend EMA 9 and EMA 20 back in January towards the peak, since there were no downtrends occurring during the bull run.
Afterwards, we can see 2 Fib Speed Resistance Fans.
1st Fib Speed is used once Algo started bull run between 0.618-0.382 (Retracement), had test between 0.0382 and 0.236 (Retracement) and at the end broke 0.2361(Retracement).
2nd Fib Speed is used at the exact same pattern bull run, but we are yet to see a breaking of 0.236.
If you look closer you can see that breaking from 0.618-0.382 (Retracement) on both Fib Speed Resistance fans was happening between 0.75-0.25 (Fib Resistance).
Now, if we go back at 1st Fib Speed we can see testing from 0.25-0.25(Fib Resistance) and then another break 0.25-0.5(Fib Resistance). Testing is happening at the 2nd Fib speed between the same Fib Resistances as in the 1st Fib Speed.
BINANCE:ALGOUSD BINANCE:ALGOUSD BINANCE:ALGOUSDT
