LONG - ALGO - Trading OpportunityALGOBTC has been inside the daily cloud for quite some time now and it's holding quite well, making a perfect retest of the MA200 and support, the huge volume that has been coming in is a pretty strong indicator of what's to come next, looking at the flat tops of the cloud as target.
Entry: 0.00002941
Target 1: 0.00003573
Target 2: 0.00003749
SL: 0.00002769
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ALGOBTC
ALGO topping it offALGO topping it off with a hidden bullish divergence.
See my previous idea for a further analysis
*Not financial advice
ALGO short term opportunityPlease feel free to comment or challenge me on my TA. If you like my idea, leave a like to show support.
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ALGO FRACTAL
Signs that have given us hope in the past:
- Golden Cross about to form
- RSI has broken above and below 70
- Run up in price, follow by a retracement towards the 50-MA level
Has lead to +15% gains in the past three months. As of today if price were to rise 16% it would beautifully touch the weekly resistance level.
Keep your eyes out, but wait for the retracement to the 50-MA
*No financial advice
ALGOBTC | Key Level | Trend Reversal | Head and ShouldersTodays Analysis – ALGOBTC – Forming a potential head and shoulders pattern, trading at a key level within a multi-month descending channel.
Points to consider:
- Range Median – key level
- Head and shoulders
- Low volume
- RSI below 50
- Stochastics oversold
ALGOBTC has found support at the range median of its descending channel. Price holding above the area will establish the right shoulder of a potential head and shoulders (H&S). Price breaking and consolidating above channel support will further validate this pattern.
A validated head and shoulders pattern will establish a higher low in the chart, indicative of trend reversal, forming a bullish bias in the market.
Volume is tapering off and remaining below average, an influx is needed price attempts to break channel resistance to avoid any false breaks as seen previously.
The RSI has broken below 50 indicating increasing weakness in the immediate market.
Stochastics are oversold and may remain oversold for some time as seen historically, before momentum shifts to the upside.
Overall, in my opinion, further price development will determine a directional bias. An S/R flip at channel resistance will allow for a long bias and a break below range median, price is likely to test channel support.
What are your thoughts?
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
ALGO/BTC - E2E setup with ConfluenceBeautiful setup. Only the Chikou being just over the candles makes it bullish but many other factors to support this trade.
1. We reset the 21EMA
2. We reset the 100EMA
3. Closed above and retested Tenkan, 100, 21 EMAs
Algo on the bottom of the screen showing flat and gnerally this means exhaustion and a likely rise.
Entry: 2500-2230
T1: 2933 - 200EMA/Resistence
T2: 3302
T3. 3576
T4: 3731
Ideally we are going for the E2E to 2933
Trade, Chart, Learn, Repeat
Coach K
Good entry position for a LONG position on ALGO/BTC (LONG) Reasons for a long at this position:
- Possible HEAD&SHOULDERS
- Favorable RSI trend + RSI <50
- At a key price level that has returned to be support after breaking resistance
Let me know if you've got feedback! Always eager to learn!
Thank you.
ALGO, READY FOR LAUNCH?!We shared this last night with our crew at 2464, here's an overnight update... ideas still valid
(Legend AOI = Area Of Interest)
AOI 1 - 2575 - NOW HIT
AOI 2 - 2734
AOI 3 - 2897
I lose interest at: 2297
I spoke about ALGO last night on our scan and while today it's still laying flat, I just have that...feeling that I get before something is about to pop.
BUT
Until we break and close about that 2582 spot, I'm not taking any positions. WE can see that the next logical step after that would be around the 2897 mark and just shy of that 200ma.
Patience is the name of the game with old mate ALGO
$ALGO, Trying to cross over ~2500sats resistance level w/ volume$ALGO
Trying to cross over ~2500sats resistance level w/ slightly increasing volume..
UCTS turning green on low timeframes so I have set some alerts in case that a R/S Flip occurs or volume starts flowing
EMA50 could also be a good trendline to watch...
#ALGO