Long

I, Uhh... Drew Something! Look! $ALGO

Updated

I don't know what I'm doing, but I did this once and it did a thing, so I'm doing it again! The ... The big pink one is where I'd start to be concerned over the coming days, but I'm guessing there's magical support somewhere in the 1.20 range. It's a bull / bear bonanza! No one is safe!

... Colors!!

Note

Oh and I have a terrible memory so I'm thinking uhh.. Here's a short list of

"Rumors To Sell The News To"

-Blackrock / Tier 1 financial institutional interest in the Algorand blockchain; essentially in the "News" category, but I'm not sure how official it is- or real!
-Governance! I think folks will understand the meaning in time and when they do, it should increase the demand of the coin
-Coinbase! Eventually I feel like they're going to get around to supporting ASAs on the Algorand blockchain, and it'll be super hella sweet to take advantage of the low fees. Grandma will shut up about gas fees and we'll all be happy.
-DeFi and it's multiple heads will rise from the depths and consume us all!
-Various buzz around Circle and USDC. Maybe it's an evil scheme to corrupt our souls, or maybe we never had souls to begin with! We'll find out together!
-There's probably more, or I've exaggerated or misunderstood the importance of certain events. Life isn't real! YOU NEED TO WAKE UP!

Note

Hey! Gee WHIZ! First bounce off my "UH OH!" line on 5/4, and I grabbed a tiny bundle! Looks like we'll be riding the lower channel for a bit, but I'm still happy here. Looks like a big crapload of accumulated volume on 5/3, so we'll see if the trend hodls!

Note

But it happened!

In hindsight, it looks like I utilized a (bad, amateur) iteration of a Raff Regression Channel, or something like that. I generally try to account for "Sentiment as a function of price action" when it comes to the individual trend intervals, and I've got to say that it appears as if they correlated with the price movement. We'll see what happens in the coming days.

I'm usin' triangles on the next one! Maybe I'll also label and go into further details. Maybe I won't!

pleasesendhel

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