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ALGOUSDT

ALGO / USDT - Big triangle pattern. on the verge a breakout?Here is my take on ALGO / USDT 4H. We are witnessing a triangle formation with a potential breakout. If the ranging motion continues then we can consider the pattern as invalidated. If the triangle breaks the upper line of the triangle - I recommend that you wait for a solid confirmation - then enter a long position. Take profit ideas: TG1 - 2.08$ TG2 - 2.18$ TG3 - 2.26$ TG4 - 2.44$ I keep it simple and clean! Likes, comments, and follows are dearly appreciated. Let me know what you think and which ones you would like for me to analyze next. Trade safely!
Long
by Droz_TA
8
ALGO ---> C&H pattern - DIRECTION 7$Hello everyone ! 
 Today the Black Cat Trader is analyzing ALGO based on a weekly chart.  
 What we can see : Pitchfork : Prices are stuck under the intermediary lower line of the pitchfork Pattern : Prices are building what seems to be a beautiful Cup and Handle pattern. 
 What we can expect : - If ALGO manages to break the median line of the pitchfork, we can expect prices to reach the intermediary upper line of the pitchfork first. A pull back on the neckline of the C&H would be perfect to send ALGO to the last upper line of the pitchfork. - Note that the trend based fib extension gave us targets who match with our C&H and pitchfork final objectives. Major resistance 1 : Median line of the pitchfork Major resistance 2 : ATH —— Major support 1 : Lower line of the pitchfork Major support 2 : Long term uptrend (Green) —— TP1 : 3,49$ (1.618) TP2 : 5,23$ (2.618) TP3 : 6,98$ (3.618) TP4 : 8,72$ (4.618) IF YOU LIKE THIS POST, FEEL FREE TO LEAVE A LIKE AND FOLLOW THE BLACK CAT TRADER  
 MAY THE CRYPTO BE WITH YOU GUYS (D.Y.O.R)
Long
by Hector_Bienvenu
1
Algorand (Sideways Trading)Algorand is still trading sideways after forming a Large Bull Flag Pattern (blue triangle) after seeing an increase of 187%. ALGO is now stuck in the green rectangle ( resistance zone ). Breakout expected to the upside, with a price target of $2.49-2.60 per Algo. The relative strength index was also trending down (during the formation of the Bull Flag ) however, the R.S.I is now stuck in the "resistance zone" as well. Trading is generally staying above the red-line in the R.S.I Chart (signaling an impending breakout possibly). Expect resistance at 80% on the R.S.I. [ b]Support at $1.70-$1.50, with a "floor" (high level of support) at $1.50. Ceiling at $2.00 (high level of resistance).
Long
by marcosdaunte
Why breakout never worksHello traders! This is another educational post just to break your false perspective which will benefit you and it will also help you not to fall into the trap of uneducated traders. I have seen traders who just make a trendline line and put a bullish arrow and say that after the breakout price will go to heaven but in reality breakouts never works and they are very far from reality. If you buy a breakout blindly then there is only 1 out of 6 chance that you are correct. In other words, you will keep losing again and again with that strategy. So why breakout never works? The patterns that we see are illusions, they are not real but the market does react to the trendlines and patterns. What I mean by the reaction is that after a breakout market forms different kinds of reactive patterns. These patterns help the market to move further up or they push the market back in the trendline and most of the time these pattern pushes the market back in the trend. If you can figure out what pattern is formed after the breakout then you can predict easily that the breakout will work or it will fail. Do your research and ask the questions. Here is the tip: Selling on bullish breakouts is more effective than buying on bullish breakouts.
Education
by Aadil1000x
1