ALGO LTF Support & Resistance$ALGO dropped into a LTF zone with good trading opportunities over the past 24 hours.
Now, the market is preparing to receive March CPI inflation numbers at 8:30a EST.
Look for short opportunity on breakdown, or a market really after the recent retracement.
CPI impact likely
<8 - bullish response
>8 - bearish response
Algo
BTC daily has the DeMArk 9 reading it may have the bottom in?BTC Daily could not hold the Momentum
bullish trendline...But the purple box would be the
consolidation/support box at this level... also
the DeMark 9 Indicator is reading we are at the bottom or very close to it...
Support at $$39,350-$37,481 range...i can update from there. Lets see if BTC can push back
above the $40K and then $42K mark and we could
then see a retracment to the $52k-$57k price.
RSI is Overold and should be moving up.
Algorand (ALGO) count me in!Algorand is a token that I have not covered on this platform too much. It's a shame because ALGO is one of my favorites. In terms of the accessibility, speed, and efficiency- ALGO blockchain is top notch. I mean, heck- if you ever want to send cryptocurrencies anywhere for the cheapest possible price... what do you use? -- ALGO
The volume and number of wallets opened/holding ALGO has also steadily increased over the last several months with no real fall off...
♠️🤫🐿
ALGO could make the move up after this trendline break.ALGO daily chart
This chart is still intact and once it gets the
push above the descending trendline, This
chart could really show whos boss...The ALGO
blockchain has been rated top 3 best blockchains
in this industry as well. Lets see what it can do here
in the next 1-8 weeks. RSI is literally Oversold
and on Deck to move up now.
Algorand Short Scenario $ALGO's last two local highs both saw spinning top candles on the daily chart. Each realizing approx 20% retracement that followed the daily candle close over about 1.5 weeks.
Today, ALGO is forming another spinning top. If the trend continues, this gives a short-term price target of $0.67 by end of March.
ALGO - Wait For The Trigger!Hello everyone, if you like the idea, do not forget to support with a like and follow.
As per my last video analysis, we were waiting for the bulls to take over from a medium-term perspective by breaking above the inverse head and shoulders neckline.
ALGO broke above the neckline and traded higher. Now for the bulls to take over from a long-term perspective, we need a daily candle close above the last high in gray and above 1.0 round number.
Meanwhile, until the bulls take over from Daily, the bears can still kick in to form another low.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich