ALGOUSD.P trade ideas
Stairway to Heaven... Hell... or Purgatory $algoThis set up goes all the way back to lowest point of Algo on Nov. 4, 2020 following the previous peak in Aug. 2020.
Notice the trend since Feb. 12th peak at 1.8585. The dips occur at the cross of the 3/1 (red ). The peaks occur at the cross of the 2/1 (yellow).
If the trend continues I see 3 possible scenarios to play out:
1. Algo breaks out in a big way when the 2/1 crosses the previous high of $1.8585. That has the look of a cup and handle. (Stairway to Heaven)
2. Rejection at $1.8585 with a retrace to the 3/1 line where it finds support. (Purgatory)
3. Rejection at $1.8585 with a retrace to the 3/1 line. Support lost and we enter a bear market. (Hell)
I don't trade. I HODL. Not investment advice.
Please share your thoughts or predictions.
Follow up on ALGOUSDAlgorand is showing a nice bounce and clean rejection off of the support shown in my previous post. Just an update not financial advice.
$ALGO correction coming to an END.We wicked down and tapped the trend and 0.786 fib perfectly this morning and it may signify the end of the correction for ALGO and all of crypto really.
I think we may get another tab of the trend line & 0.786 fib, forming a double bottom on the lower time frames before a slingshot back up.
Should we break the trend line and close below, we have support at the grey box & the $1.00 psychological level.
ALWAYS ADAPT & CONSIDER ALL POSSIBILITIES.
ALGOUSD Possible Bullish EntryBased on the two blue ascending trend lines i have drawn, we seem to be closing in on a strong area of support for Algorand.
ALGO Is Oversold IMOBased on a long-term trend line I think it's oversold. This is just my opinion and not financial advice =)
Another reason to be bullish on ALGO for the long term!We have formed this ascending triangle on the daily logarithmic chart which is a bullish sign for ALGO. We are still in either the 3rd or 5th Leg on the Macro trend for ALGO which is super bullish long term, however due to the recent pullback on the smaller time frame we may see one more dip to the downside completing an ABC correction wave. Support would form near the bottom of the blue channel at the $1.20 mark in my opinion.
Overall Bullish for ALGO, and enjoying the staking rewards of this bumpy ascent.
THE GOLDEN NFT COIN ALGO CAN BECOME NO 1 NFT COIN - HUGE EXPECTIHello trading friends,
Know that Algo can go above all our expecting targets, we don't just change our profile picture for this coin, there are huge NFT NEWS coming, we did talk also with the team of ALGO, seems great updates on the way. we expect also depending on more things a great increase for the next coming time.
# its possible that ALGO can become the NO 1 Worldwide NFT coin with a great CEO and team.
i expect we can see soon a huge breakout on ALGO for the real moon target.
Our 2.50 target can be only the start
# we expect this are only the dip buys before we will enter to above 2 usd + with whale trend.
Discipline is the key to success - Take profit - Learn from your mistakes and never give up!
The reason 1 that 90% of traders lose, not because they can't trade, but because they trade emotionally.
if this appeals to you then learn yourself first before starting with trading.
#Always do your own research don't follow us or someone else blindly * this is not an advice
---> Have a great day
ALGO Drop Holds TrendlineHrm. Identifying range values for accumulation but otherwise chillin on this one. Need more time.
ALGO.X: Possible Cup-and-Handle formingAlgo has all we need for a currency. It worth more than a dollar already but should worth 5 times more. There is going to be a little dip in the short term but long term, Algo will worth 5 dollars. Watch for this handle forming within the next month, and then there is the moon.
PUMPS AND DUMPSIs every pump followed by a dump? IDK but tell me what you think.
Not financial advice =)
History doesn't repeat, but it rhymesA little Saturday afternoon Hopium.
The last 2 cycles for Algorand saw 650% and 730% rises, followed by a 70% and 55% fall.
If we take both of these cycles and extrapolate – we're looking at a $6.40 price target near the end of June with a likely correction trough July down to $2.55 after.
Just gotta zoom out sometimes.
ALGO taking offALGO had pushed up into the larger ellipse shown. If the current daily candle closes above that lower boundary, I expect either a parabolic run, or a bounce up the bigger ellipse. Could also see it drop under the bigger ellipse and bounce between it’s lower border and the ellipse drawn below it.
Algo ATH Break threw soon.Algo have been breaking all resistant's. Almost breaking the last one. Coin have a 6%-10% stake on dif exchanges. Gain Algo while holding. Continue to monitor this coin. Follow me for daily analysis.
Algo: With a MicroscopeJust an update on a previous idea... seems be be playing out so, I would personal like to set longs with tight stop losses. Not Financial Advice... Cheers!
10X Before Next Staking Rewards DistributionInteresting pattern tied to the dates of the staking rewards distribution
Could we see a 10X run up starting in July before the September 1 staking rewards distribution?
