ALGO/USDT Cut & Handle spotted Hello guys
Another one one our watchlist is ALGO/USDT pair. As on THETA this one also has formed our favourite pattern which is "Cup & Handle" pattern. This pattern has been working out nicely for us so let's see if ALGO can secure the price above the neckline which would lear the price of ALGO to go towards EMA100 and possibly EMA200.
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ALGOUSDT trade ideas
AlgousdtAlgo Formed Falling Wedge In H4 Timeframe( Bulish Reversal Chart Pattern)
Rsi Printed Massive Bulish divergence ( Bulish Divergence In Rsi Is Also Bulish sign)
Now Algo Needs To Break Wedge To The Upside Then We Can Look For Long Entries
Keep In Mind That Algo Will Remain Bearish Till Wedge Upside Breakout
ALGOUSDT | BULLISH PATTERNALGO has been trading at very important level.
The price after hit a bottom at 0.1600 has been trading in a bullish trend .
The price has printed cup and handle formation.
The price has already broken above the handle of cup.
The bulls are in control.
Manage your trades accordingly
ALGO a Safe Play!? ALGO seeks to build on similar projects like Ethereum by improving scalability, security, and reducing the amount of time it takes for transactions on the network to be considered “final.”
Developers can use Algorand to create decentralized applications — for loans, decentralized trading, and many other uses — that can take advantage of fast, low-cost transaction processing while scaling to a large number of users.
With a reward of over 6% currently on Coinbase and 72% of supply now released ALGO is in a strong position to steadily climb to new Heights. Algo looks like a safe play in the coming Bull!
IMO ALGO has bottomed and a reversal is underway!
Algorand: Potential Bullish Bat at 61.8% RetraceAlgorand has just hit the lows pretty hard and is now trading at the Lo-AWR and looks to be exiting the local consolidation trend at the lows soon. At the sametime we have a SMall Local Bullish Bat whos PCZ lands at the 61.8% retrace from the swing low to swing high. This particular Bat here is not the most grounded bat but i think it's worth considering and will be targeting the highend of the range.
ALGO Waiting ✋for complete pattern ☕🖐☕Hi dear traders
As you saw in previous analysis we take profit 📈full target ✅
After climbing 19.54%, the price is now correcting.
If it stays above 0.1717, it will correct around 9.63%.
Now it's seems Cup and Handel forming.
The cup pattern is formed and we are waiting for the formation of the handle.
If the pattern is confirmed, the price can climb up to the resistance area of 0.2126.
We have to wait for the market's reaction.
If BTC rises, altcoins will also start to rise.
ALGO is unpredictable, but we can take a good swing and earn profit in both the bearish and bullish cases.
Waiting for breakout and pullback completed for long position.
Let's see what happens
This is not financial advice ( DYOR )
Good luck
Algorand (ALGO) to $2On the above 5-day chart price action has corrected over 90% since the beautiful sell signal (not shown) on September 2021 @ $2.40. Now is an excellent long moment. Why?
1) A strong buy signal (not shown).
2) Price action is printing as support on past resistance, look left.
3) Regular bullish divergence. Lots of it. Do not ignore.
4) Dragonfly DOJI candle.
Is it possible price action falls further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: Don’t know.
Return: 10x
ALGOUSDT - Long by Supertrend, ADX & MA 1/10/20231. ADX INDICATOR: 1h & 4h timeframe have a strong strength for open trade.
- ADX smoothing: 14.
- DI length: 14.
- ADX STRONG > 25.
2. SUPERTREND INDICATOR:
- Long trend when closes candle is above the green line.
3. MOVING AVERAGE INDICATOR:50
- Long trend when closes candle is above MA line.
- BUY/LONG: reject to Supertrend at current timeframe.
4 level touches. Getting ready to fall!The coin has grown well. The price approaches the local maximum around 0.1956. We see weakness on the part of buyers, large red candles and shadows. I expect a pin of 0.195 and a rebound from that level below. In support, an oblique level with 4 touches has formed, the next approach may be the final one before the breakdown. PoC Volume Level Targets
