ALGO-USDT, Attacking the trend-line
This is only a personal idea based on my very limited knowledge, please do your own research and analysis.
Algo is approaching 3 points at the same time. The strong 1.61 Fib level, the upward trend-line, and the psychological number 1.5. If you like fancy names, the chart previously formed a cup and handle pattern! So, what are we looking for? The current price is very risky because BTC is trying to break its ATH and we all know, if BTC goes down, it is gonna take Alts down with itself as well (Do not forget about your StopLoss). Now let's discuss the best scenario, if the price goes above 1,52, we can at least see the price up as much as 1.61 Fib level, which is around 1.7, a successful break-out of price there which will result in breaking the trend line as well can boost the price up as high as 2.1 at least. In the case of a very bullish scenario, the price can even reach 2.5-2.7.
Thank you for reading my opinion,
Happy trading
Algo is approaching 3 points at the same time. The strong 1.61 Fib level, the upward trend-line, and the psychological number 1.5. If you like fancy names, the chart previously formed a cup and handle pattern! So, what are we looking for? The current price is very risky because BTC is trying to break its ATH and we all know, if BTC goes down, it is gonna take Alts down with itself as well (Do not forget about your StopLoss). Now let's discuss the best scenario, if the price goes above 1,52, we can at least see the price up as much as 1.61 Fib level, which is around 1.7, a successful break-out of price there which will result in breaking the trend line as well can boost the price up as high as 2.1 at least. In the case of a very bullish scenario, the price can even reach 2.5-2.7.
Thank you for reading my opinion,
Happy trading
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