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Algorandbtc

Algorand (ALGO) | This Can Be One Of The Best Buying OpportunityHey, friends hope you are well and welcome the new update on Algorand coin. The priceline of ALGO coin has been retraced between 0.618 to 0.786 Fibonacci retracement level after a powerful bullish rally of 222%. On long term weekly chart strong support can be observed. Every time priceline has rallied to the up side after hitting at this support. The priceline of Algorand (ALGO) has formed bullish Cypher on weekly chart. The targets as per Fibonacci sequence of Cypher are as below: Potential reversal or buying zone: 0.00003233 to 0.00002683 btc Fibonacci projection or sell zone: 0.00003666 to 0.00004732 btc On the daily chart the priceline is trying to breakout 200 simple moving average. The safer buying can be after closing above this SMA. `Conclusion: As the priceline has completed a bullish Cypher move while reaching at the strong support level on the weekly chart therefore there can be strong chances that the price action of Algo will start a powerful bullish rally from here. However, the potential reversal zone of bullish Cypher should be used as stop loss to minimize the risk factor.
Long
by moon333
2
ALGO/BTC bullish time !!!!!!!================ BINANCE:ALGO/ BTC ================ ALGO / BTC breakout the line as u can see AlgoHIT THE BREAKOUT LINE maybe it's time the WEAK UP and make revearsal pattern tu bullish time the reason 1. algo cross the falling wedge 2. bullish engulfing 3. the price is up from ema 14,20,50,100 and wait to cross ema 200 and bullish let see elliot wave. we wait for wave 1 if stop and correction we can wait for pullback to wave 2 and entry and ready to moon wave 3. ============================================== Trading is High Risk THIS IS NOT ADVICIAL MANAGEMENT Please use Risk Management and your stop loss ============================================== support my channel Thumbs Up, Comment & Follow Happy Trading Thank You and GOOD LUCK! :) ==============================================
Long
by AnnandraRahman
2
ALGO/BTC: Breakout Confirmation for the Long Term 1D (Aug. 11)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ In this analysis, we take a look at Algorand (ALGO)'s daily chart, assessing its bullish probabilities. Analysis - To begin with, it's important to note that we have broken out of a descending trend line resistance that had been suppressing prices for over a year - After a breakout, we have had a pullback, retesting the now support-turned-resistance - We have managed to close above the 0.236 Fibonacci retracement support - The Simple Moving Averages (SMAs) are all aligned in the order of: the 20 SMA, 60 SMA, and 100 SMA What We Believe Just as many other alts that have broken out of major descending resistance trend lines, ALGO demonstrates a high potential upside in a bull market. Let us know what you think in the comment section below Trade Safe.
Long
by XForceGlobal
10
Algorand $ALGO - Swing Trade opportunityAlgorand $ALGO formed a W-formation on the BTC chart and I can see a bullish MFI divergence on the big picture. Recently Algo broke trough the resistance trend-line (violet line on the chart)! I am now hoping for a small retracement to catch it somewhere between 2651-2400 sat. There is still big upside potential for the next several weeks/months! SwingTrade ALGO-BTC: entry: 0.00002651-0.00002400; TP1@0.00002998 TP2@0.00003498 TP2@0.00003888 with 3% TTP SL@0.00002198 (SL timeout 8700 sec) I´m not a financial adviser. For educational purpose only!
Long
by Asset-Ethology
7
Possibility of a breakout looming :>Now amidst all the uncertainty and fear with the upcoming halving, I leave the possibility of anything happening open, and advise that you be careful and always use proper risk management when trading! If using a sound risk management strategy, I think that certain alts (particularly the most promising ones - like algo) are looking favorable. This coin has bled a lot within the last few days, and the remaining supports are a lot stronger than the resistances. In fact, I don't foresee much difficulty breaking the resistance levels. What I think is the greatest factor to if we will see a breakout / trend-reversal is if enough momentum can be found to ignite it. I think the possibility of such seems to be favorable now, and offers a high reward to risk to ratio with a tight stop-losses at the close (but strong) resistance levels. We saw Bitcoin break-out yesterday, and sometimes alts actually stall for about a day before following Bitcoin's trend (this would be the optimal scenario, but the power of ALGO itself being a promising and desirable alt should also be considered). I'm long, let's see what happens!
Long
by eyeseaevan
7