This Algo pattern has been forming for many days counting This triangle pattern has been in development for quite a while now, I believe a breakout soon is imminent. Not even overbought at RSI. What are your thoughts?
Algousd
ALGOUSDT 4H Will the cup and handle pattern complete ?ALGOUSDT 4H
It broke out the blue bearish trend line and stop loss at the red line (1.3054).
If it can break though 1(1.8400) and have short upper shadow
1st target will be 1.272~1.382(2.2797~2.4575)
2nd target will be 2(3.4566)
Algorand (ALGO) - May 12Hello?
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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)
ALGOUSD bounce off 100 Moving Average IndicatorThe moving average indicator is a widely used indicator that can sometimes predict future price movement of an asset. Often, when any asset price bounces off the Moving Average or ‘MA’, this means that we are in for a good increase in price.
For two days in a row, ALGOUSD price has experienced a bounce off the 100 period MA, could this be a final call before departure to the moon?
Let me know what you think in the comments!
ALGO setup looks like last summer.Looking oddly familiar to last summer's rally. Interested to see where the RSI breaks the downtrend on the daily.
ALGOUSD BOUNCE OFF SUPPORT LEVELALGOUSD has just bounced off a KEY support level at the Dynamic SR level of the drawn pitchfork. This correction gives a huge sentiment of a bullish market in crypto tomorrow. This will probably be the last pump of the cycle before the market crashes again. Time your exits well and stay alert.
ALGO - You Decide => We Follow!ALGO is currently stuck inside this green range. NOW WHAT?
Here are the two scenarios where I will be looking for high probability buy setups:
I call them War Zones.
Scenario 1 - Purple : (Lower Zone Retest - 0.900)
I will be waiting for ALGO to retest the lower bound of the range (projection in red) to look for buy setups on lower timeframes.
Scenario 2 - Orange : (Upper Zone Break & Retest - 1.900)
Or if ALGO breaks above the upper bound of the range (projection in blue), then I will be looking for buy setups on its retest.
As per my trading style:
As ALGO approaches one of the circles, (orange or purple) I will be looking for reversal buy setups (like a double bottom pattern, trendline break, and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
What do you think? Which scenario is more likely to happen?
All Strategies Are Good; If Managed Properly!
~Rich
ALGOUSDT | Daily Time Frame | 8 May 2021ALGOUSDT Will pump hard after crossing 1.8$ and this is possible
®Reasons:
✔ Price is above clouds in daily TF (confirmed)
✔ Tenkan-sen crossed Kijun-sen (confirmed)
✔ High volumes is 2 past days (Being noticed)
✔ The opinion of most analysts is Bullish (Optimism)
👍 May be some correction and then go up!
ALGO/USDT can do a great bullish movement!Hi every one
ALGORAND / TETHERUS
has formed a cup and handle pattern which is a bullish pattern so we can be sure after the completion of this pattern and when the break out happens the price will increase as much as the measured price movement ( shown in the picture!) we just have to wait for the break out to happen!
Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad.
Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Thank you for seeing idea .
Have a nice day and Good luck
ALGO/USDT is preparing for a huge pump!Hi every one
ALGORAND / TETHERUS
ALGO/USDT is forming an ascending triangle which means after the breaking of this pattern we can be sure that the price will increase as much as the measured movement!(AB=CD) there is also a Hidden bullish divergence visible on RSI indicator as well ( good bullish signal)
Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad.
Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Thank you for seeing idea .
Have a nice day and Good luck
$ALGO Continues the Slow & Steady Path to $2*THIS IS NOT FINANCIAL ADVICE*
Besides the fact that ALGO has real uses, and is backed by a solid team, it's ALT season so most things don't matter.
As you can see from my chart (and previous chart) ALGO is on a steady climb to its resistance zone in the $1.60 to $1.80 range.
Afterward, I expect $2 to be the next resistance target but just like when it hit $1, it will surpass this and settle around the low $2 range.
($2 will only be a psychological resistance)
By this time next week, ALGO will reach the top of its accumulation zone and begin retesting its resistance zone.
As you can see in the first zone, ALGO hit resistance 3x before cross it on its 4th.
Overall, I expect ALGO to stick around for a long time and will someday be worth more than $5 💎
Please let me know your thoughts on this theory, or if you have another idea in mind!
Algorand ALGO-USD Ascending Triangle - Bullish ScenarioPossible scenarios I am looking at:
1. BO of Ascending Triangle
2. Consolidation before the next leg up to ATH
P.S: This is NOT investment advice. This chart is meant for learning purposes only and is a part of my personal journal. Invest your capital at your own risk
ALGO really taking off this time?Not an expert. Not financial advice.
Is the entire cryptocurrency market potentially at Base 3 on a parabolic curve?
ALGO upside targetsALGO has been consolidating range bounded between 1$ to 1.8$ for the last 2 months. Expecting big upside movement if consecutive daily candles close above 1.8$.
Based on the cup pattern and fib expansion from the last impulsive wave it could hit somewhere between 3$ to 7$ if BTC remains bullish.
ALGO 4H BUYAlso set some Buy orders near the Trendline
Remember no more than 5% of the deposit in one trade
SL: next sell signal
ALGOBTC Massive Broadening Wedge BottomGo google it, it's so classic and obvious that you can't miss it, Silvio Micali is going to launch it!
