ALGO: the falling wedge BREAKOUT! Short review!
Algorand (ALGO) is in a big falling wedge. This pattern is more likely to break UP, so we will consider a bullish scenario.
The squeeze under the trend line will be the main trigger for opening long positions. On the lower timeframes a breakout of the local trend line is also an additional bullish signal. Consolidation before a breakdown is necessary, as a major player needs to accumulate ALGO.
Targets:
1. $1,33-1,42
2. $1,73-1,88
Friends, press the "like" button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
The squeeze under the trend line will be the main trigger for opening long positions. On the lower timeframes a breakout of the local trend line is also an additional bullish signal. Consolidation before a breakdown is necessary, as a major player needs to accumulate ALGO.
Targets:
1. $1,33-1,42
2. $1,73-1,88
Friends, press the "like" button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
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