Algorand ($ALGO) New FIBAlgorand $ALGO New FIB: $ALGO is beginning its come back touching $1.82 resistance
ALGOUSD.P trade ideas
Algo in a congesting rangeAfter the high above 2.5 from 13 September, AlgoUsd has started to correct lower and now is trading in a congesting range resembling a symmetrical triangle.
Levels to watch are 1.9 zone, with a break here exposing 2.5 high and 1.68 for a bearish move with a target at 1.25 support
Bullish Cypher Pattern (ALGOUSD)I am practicing identifying cypher patterns and noticed the beginning of a bullish pattern on the daily chart. It will be exciting to see if it plays out.
Additional validation will occur at "C" between 1.272 and below 1.414 and buy in level at "D" completion point above .786.
Bullish Stance on ALGO (Algorand)Despite all the China FUD, ALGO or Algorand has held up pretty strong.
Bullish Indicators in favor of ALGO:
Volume Contraction Pattern
MACD Positive (despite the recent crypto sell off)
50 DAY EMA as support
Relative Strength vs the entire crypto market
Stochs at Oversold levels
Strategy:
Buy below $2.00
Cut price $1.40
There might be more upcoming consolidation but ALGO looks really good for the long side
This is my favorite cryptocurrency as of the moment as the market looks to bounce from its recent slump.
Good luck!
Accumulation ZoneWhile we stay below $1.76 I will continue to accumulate. This is an opportunity clear as day, once we break that resistance level towards next fib level we will see a run up to complete the bull market. I believe that this macro cycle for crypto is not over and we will see an explosive next three months to the up side before the start of a long term crypto bear market.
ALGO to $1.59 before breaking out?Give then tokennomics of ALGO and how BTC is doing current, we can expect the sell pressures to remain on ALGO
We will continue down the channel to about $1.59 ... in 24 hrs we should know if we are breaking up or down ... but the trade should hold until ~1.59
In case king BTC bounces back, I have 2 TP,
TP1: 50% - $1.64
TP2: 50% - $1.59
Being Sunday, I will keep a close eye on the overall #crypto market as I might sell TP2 a little before or after.
ALGO Algorand upwards momentum with an Inverse H&SWatch news for governments using this blockchain and technology for their own CBDC. Major governments are testing on Algorand now. Wait for a major announcement and this goes up x10 in a matter of days.
This is not trading advice. Good luck, God speed and watch out for flying telephone poles.
ALGO Parabolic Rise ComingLayer 1s have shown big relative strength recently as I believe it's that time of the crypto cycle that these large caps go parabolic (SOL gave us that signal).
ATM, ALGO looks to have the best chart looking at the recent volume patterns and consolidation above the recent highs. I believe the past two days is a simple shakeout before this goes on a huge run over the next few weeks 🚀
ALGOUSD - Clear confirmation on daily candlesHello Traders.
On daily candles, yesterday we had confirmation of both price and volume acceleration.
1. Enveloping candlestick
2.Green volume turning red to continue the dominant trend.
3.We may be in something that short volume manifests itself again and becomes dominant, i.e. until the red line overlaps the green line.
FOLLOW A STRATEGY
MY NOT SO MINIMALIST ANALYSIS OF $ALGO9.23.21
Analysis of $ALGO
HOW TO READ CHART
Indicated are key support and resistance levels using small and large trading range boxes for ENTERING A SWING TRADE (Short - Long.)
Watch out for Patterns, Divergence, EMA, Candlestick Math, and your Fibs.
Further Analysis on price action is required on a 1HR-4HR chart when entering or closing a trade, depending on your risk appetite and trading style.
Disclaimer:
The findings/predictions of the following analysis are the sole opinions of the publisher of this idea and must not be taken as investment advice.
Thank You for your appreciation and support.
ALGOUSD D1: PRICE/ RSI DIV WARNING / 75% correction(SL/TP)(NEW)Why get subbed to me on Tradingview?
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ALGOUSD D1: PRICE/ RSI DIV WARNING / 75% correction(SL/TP)(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
NOT a setup to SHORT ALGOUSD. Just showing
signs of weakness and recommend to stay out
of this market into the pullback.
🔸 Summary and potential trade setup
::: ALGOUSD daily chart review
::: not a great looking chart
::: hit top / resistance of the bullish channel
::: also noteworthy divergence
::: price/ RSI div very clear on D1/H8 TF
::: expecting correction/pullback mode
::: pullback required to attract
::: new buyers from the lows
::: 60-70% pullback possible next
::: 6-10 weeks in Q3/Q4 2021
::: right now limited upside
::: positions traders should wait for
::: better entry prices later after
::: correction MODE up next
::: be careful don't get caught up in this
::: also overextended right now
::: BULLS remain on sidelines and
::: be ready to BUY LOW later
::: recommended strategy: SHORT SELL RIPS/RALLIED
::: TP BEARS is +75% gains
::: BULLS stay out until correction is over
::: SWING TRADE: SHORT/HOLD IT
::: correction run not over yet
::: good luck traders!
::: BUY and get paid. period.
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BEARS/CORRECTION
::: Sentiment short-term: BEARS/CORRECTION
RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
Sometimes you get poop on your dickAlgo will be alright, just adding comedy since my projection was wrong. This might be the dip to buy, it hit my buy dip target of 1.60 earlier today. It could bleed more so i am watching it throughout today and the beginning of the week here. Everything is red today, so just be patient and DCA when you think its time.
