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Algorand

Opportunity brewing, but bearish break expectedKeeping an eye on ALGO/BTC. It doesn't look pretty, but there may be an opportunity developing in the next week or so. We're currently testing the Support of a large Descending Triangle. Descending Triangles are bearish and so a break down (at some point) is expected. Combined with the recent bearish momentum and overhead resistance, I'm inclined to think the break will happen sooner rather than later. However, there are some bullish signs that keep ALGO on my radar: We're seeing bullish divergence on the Daily chart and we're entering into another buy zone. A small buy here could be a high-risk, high-reward option for the adventurous--if support holds we could see a retest of the top of the Descending Triangle. However, I'm on the sidelines waiting for a more secure entry. Patience is the least sexy of the superpowers. ---------------------------------------------------------------- These are my personal views and not financial advice. Please do your own research before investing. I'd love to hear your thoughts, ideas and feedback. Feel free to Comment and I'll try and get back to you quickly. If you appreciated this analysis, consider Liking or Following . Thanks!
by mercury_rising
4
ALGO - Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. WEEKLY: Left Chart ALGO is overall bearish however, it is approaching a strong support zone in green so we will be looking for buy setups on lower timeframes. DAILY: Right Chart ALGO is forming a double bottom pattern but it is not ready to go yet. Trigger => For the bulls to take over, we need a momentum candle close above the gray neckline. Meanwhile, until the buy is activated, ALGO can still trade lower. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ALGOUSD
by TheSignalyst
15
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... ♠️🤫🐿
Long
by FutureAmericanExpat
Algorand (ALGO) Possible Breakout Idea.Possible breakout for both downtrend and fib wedge resistance. These are pros and cons of this setup PROS There is a Bullish Divergence in Volume Price Trend indicator. (by:AdonisWerther) The wick of the last low didn't go below last lows wick. Strong support at 0,8861 levels. Price is still trying to break fib trend resistance. CONS Buyers volume is still low. With low volume price could struggle to break 2 resistance at the same time. Bitcoin could go below 45.000 (it can be seen as ALGO rejetcing from resistance). New Higher Low.
Long
by DeadGauss
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
BINANCE:ALGOUSDLong
by TheSignalyst
16