Short

ALGO/BTC top reached?

Updated

I am gonna try and call a top here. Volume is exhausted, divergences across multiple timeframes, hard resistance zone above, wave target reached. Let's chill for a bit and get back into it at lower prices. Market cap still low at around 400 mil I think, so loads of potential to double/ triple but going vertical is not good. But props to the quick buck it made.

Note

Ok, it went directly above so it is an over-extension. I think we can reach the 1.618 fib and then go down violently to test previous resistance.

Note

I would start looking at re-entry points on ALGO/BTC after the 28% extension run and the reversal back to .5 fib.

badbeatnuts

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