ALGO USDT (4 hour)
Updated
Hi guyz
As you can see, we see a divergence
Also, the validly formed upward channel has been broken by the price.
Also, by examining the 1-hour cloud, we see a break of the 1-hour cloud to the upside.
The price in the two-hour chart has also managed to enter the cloud, and there is a possibility of touching the cloud ceiling.
In this case, you can enter into a transaction with less risk, of course, for fluctuation.
The first resistance of this currency is 0.1731, and we expect a partial correction from this area.
As you can see, we see a divergence
Also, the validly formed upward channel has been broken by the price.
Also, by examining the 1-hour cloud, we see a break of the 1-hour cloud to the upside.
The price in the two-hour chart has also managed to enter the cloud, and there is a possibility of touching the cloud ceiling.
In this case, you can enter into a transaction with less risk, of course, for fluctuation.
The first resistance of this currency is 0.1731, and we expect a partial correction from this area.
Note
Friends, according to the forecast, the price bounced back from near the 0.1731 range and reached close to our loss limit. Technically, due to the fact that our analysis was in the 4-hour time frame and the price could not stabilize below the stop in this time frame, and even in the 15-minute time frame. Below this range, the candlestick does not fall, the analysis can still be used.
Of course, my own loss limit was activated, but after seeing the conditions, I entered the position again
Trade closed: target reached
After the desired break, the price was able to touch its first target. At this stage, we expect the price to rest. Of course, the next price targets can also be touched, but it needs a new analysis with a more logical loss limit and profit limit.I will try to provide a new analysis of this currency in the coming days by examining the conditions. Note that this analysis is still valid, but you must manage your trade and change your loss limit.
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