ALGO/BTC (Double Bottom?: up to 60% profit)ALGO/BTC
If ALGO will repeat the history to form a bottom at the same area of support, we could see a potential rally up to 4000 sats region.
The RSI is also painting a bullish divergence that perfectly coincides with the current price level and area of confluence.
This is a good setup to play a Long position and have your stop-loss placed under 2250 sats.
ALGOBTC trade ideas
ALGO/BTC 8H (Binance) Channel out & back to supportSame for Algorand last signal ending stopped, let's see what it brings us on higher TF:
Buy Entry= 0.00002552 - 0.00002448
Take Profit= 0.00003084 | 0.00003484 | 0.00004132
Stop Loss= 0.00001918
Risk/Reward= 1:1 | 1:1.69 | 1:2.8
Expected Profit= 23.36% | 39.36% | 65.28%
Possible Loss= -23.28%
Fib. Retracement= 0.236 | 0.382 | 0.618
LONG - ALGOBTC - Possible BottomBullish div formed at the 4h chart with a nice consolidation at the bottom range.
Entry: 0.00002646
TP 1: 0.00003027
TP 2: 0.00003295
SL: 0.00002472
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ALGOBTC analysis, price fulfillmentPrice heading in a parallel trendline towards fib -27.00% to fulfill the imbalance in the movement occurred on the 28th of Aug. Expect resistance at fib 0.00%. If the price closes above the downward trendline go for a buy.
TP1 - 0,00004725
TP2 - 0,00005434
SL - 0,00003317
NB! Not trading advice! Use proper risk management.
#ALGO Bounce and breakout from the support level !#ALGO - the price came back to the support level and forming a falling wedge. Also, the price is located very close to the support level. I expect to see a bounce and breakout of the descending resistance. Targets are on the chart.
You can see my previous ideas on #Algo.
ALGOBTC - GANNHi, today we are going to talk about ALGO and its current landscape.
We can observe at this timeframe, a confluence of technical factors, that entail a setup which might drive this asset to a new movement. The details of our analysis are highlighted in the chart above.
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ALGO/BTC 1H (Binance) On falling wedge supportAlgorand had to pullback a bit after that big falling wedge breakout.
Let's see if it can breakout this small one also :
Buy Entry= 0.00004218 - 0.00004166
Take Profit= 0.00004390 | 0.00004513 | 0.00004600
Stop Loss= 0.00003994
Risk/Reward Ratio= 1:1 | 1:1.62 | 1:2.06
Expected Profit= 4.72% | 7.66% | 9.73%
Possible Loss= -4.72%
Fib. Retracement= 0.382 | 0.618 | 0.786
ALGO - GO, GO... GO?Wondering about the same patterns repeating here to drive ALGO on for another push.
Bull pennant fakeout on bearish divergence (the most recent was largely down to the latest BTC dump), drop and test of 200 4hr EMA (blue), inverted H&S at that level then push on up to another higher high from there.
I plan on trading this idea and will be entering around this level. Let's see what happens.
ALGO seemed to do a similar skip along the 200 4hr EMA late last year before losing the trend.
Invalid with a confirmed close below and bearish retest of the 4hr 200 EMA.
Algorand The Hype BoyThe Color Map of The Chart
Red = (M)onthly
Yellow = (w)eekly
White = (D)aily
Green = 4H
Blue = 1H
Rainbows = Mins
..........................
We all love hype boys right??
Just need to be carefull and do not FOMO this kind of crazy shit
I missed the initial opportunities on this pair, but i do not care!
If this babyboy would fail to breakout here
my buy points are;
4000 sats
3300 sats
3000 sats