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ALGOBTC trade ideas

POTENTIAL BULLISH CYPHER IN PLAY????? (4 Hour TF) $ALGO/$BTCGood evening ladies and gentlemen! I have charted a potential Bullish Cypher pattern. I don't know if this will play out, but if we end up running down to the .776 at around 562 sats with Bullish divergence formed on the four hour and daily time frame, I WILL MORE THAN LIKELY TAKE A POSITION HERE!!! This pattern remains a possibility or a speculation if you will until we reach this area! I have in play about a 6% risk which is a bit higher than I'd like, but the potential in gains here are definitely worth it. On top of that, if you are seeing bullish divergence on the larger time frames at these areas, then I would consider this an extremely safe position! Risk 6.4% to reward of our first conservative target at 671 sats (19.43% gain) 6.4% risk to our second target at 738 sats (31.37% gain) and then our third target 6.4% Risk to our target of 786 sats IRONICALLY (39.86%). Prices could go further than our conservative targets, but I will only plot these three as of now! So, to reiterate, (POTENTIAL) entry of PCZ at 562 sats with a risk of 6.4% at 523 sats for our stop. Gain targets are listed above! Again, this pattern remains speculation until we hit our Pattern Completion Zone (PCZ). Another thing I'd like to note, is that we did not hit the 1.272 target of our last impulse up perfectly. Although, we were extremely close which is why I am still listing this as a potential pattern. If this does not play out, you will more than likely run between 624 and 709 sats as a potential area of price reversal which we already hit the first target of 709 sats! I did warn everyone at the top not to buy because of the overwhelming bearish signals that were displayed!
Long
by ChArtWorks_TechnicalArts
3
ALGO/BTC Looking for a major retrace now!!!With quick impulses up like that, utilizing the one hour time frame can either make or break you here. THIS IS NOT THE TIME TO BE BUYING ALGO. The 5 wave elliot theory has played out to E already and you happen to have Class A bearish divergence on both oscillators as well as touching perfectly at the top of the geometrical resistance line. If these aren't enough signs to get out of a coin, then I don't know what it is. This is where I'd be taking profits now. I am trying to help those that are buying in now or don't know when to take profit. I highly recommend taking profit now. If this trend were to continue, it would not be out of the norms to dumb between 624-709 sats! The common retraces up! On the larger time frames this may have been only one or two impulses up! So, the trend may very we continue, but short term, you guys are fucked if you are buying in now. I am warning you ahead of time. Anyways, Good afternoon everyone and I hope you are all having a great day and or night!
Short
by ChArtWorks_TechnicalArts