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Algousd

$ALGO targets $6 over the LT but w/ ST potential downside riskI think the next time we touch the blue trend line running through the middle of the chart, it should break. Which would give $algo great upside to the higher green targets w/ a potential of $6 as the final target. The key level to break on the upside is $2.56 (ATH) which would provide a path for continuation upwards. However, the question is, what is the path to get there? I don't think the trade is as simple as it looks from the chart at the moment. While there appears to be a flag that has formed on the chart, and the indicators are looking good, I think BTC could potentially take Algo down with it, if it were to fall. I think the most likely scenario from here is that we break down from the flag (or break up and roll over) and find support at $.96-1.23 before the uptrend resumes. Reason being, that I'd have a hard time seeing Algo running straight up without retesting those lows first. Let's see how it plays out. I added some key dates on the chart for changes in price action to watch.
COINBASE:ALGOUSD
by benjihyam
ALGO doing the move ? ALGO seem to be breaking out of his triangle but i would stay cautious as long as we don't have a daily above 2.05$. If it does close above then the plan would be to buy any retest of 1.95$ and target 2.5$ as 1st TP which would be what i would play since MACD daily is turning bullish. If it close under then we would need to rethink the upper trendline of the pattern perhaps and exclude the price action of 10 to 12th september which is missleading. Ideally we want a daily close at 2.1$ so both trendline would become potential support combine with the current resistance area 1.95$/2.05$ Let's see how this will play out
BINANCE:ALGOUSDLong
by Heatrading
ALGO - Critical Times!Hello everyone, if you like the idea, do not forget to support with a like and follow. After breaking the orange resistance, ALGO has been stuck inside a range in the shape of a symmetrical triangle highlighted in purple. For the bulls to take over, we need to see a break above the upper bound 2.13 marked in blue. In this case, a bullish trend continuation would be expected till 3.0 In parallel, for the bears to take over, we need a break below the lower bound 1.55 marked in red. In this case, a bearish reversal would be expected till around 1.0 where we will be looking for buy setups. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ALGOUSD
by TheSignalyst
38
ALGO ---> C&H pattern - DIRECTION 7$Hello everyone ! 
 Today the Black Cat Trader is analyzing ALGO based on a weekly chart.  
 What we can see : Pitchfork : Prices are stuck under the intermediary lower line of the pitchfork Pattern : Prices are building what seems to be a beautiful Cup and Handle pattern. 
 What we can expect : - If ALGO manages to break the median line of the pitchfork, we can expect prices to reach the intermediary upper line of the pitchfork first. A pull back on the neckline of the C&H would be perfect to send ALGO to the last upper line of the pitchfork. - Note that the trend based fib extension gave us targets who match with our C&H and pitchfork final objectives. Major resistance 1 : Median line of the pitchfork Major resistance 2 : ATH —— Major support 1 : Lower line of the pitchfork Major support 2 : Long term uptrend (Green) —— TP1 : 3,49$ (1.618) TP2 : 5,23$ (2.618) TP3 : 6,98$ (3.618) TP4 : 8,72$ (4.618) IF YOU LIKE THIS POST, FEEL FREE TO LEAVE A LIKE AND FOLLOW THE BLACK CAT TRADER  
 MAY THE CRYPTO BE WITH YOU GUYS (D.Y.O.R)
Long
by Hector_Bienvenu
1
Algorand (Sideways Trading)Algorand is still trading sideways after forming a Large Bull Flag Pattern (blue triangle) after seeing an increase of 187%. ALGO is now stuck in the green rectangle ( resistance zone ). Breakout expected to the upside, with a price target of $2.49-2.60 per Algo. The relative strength index was also trending down (during the formation of the Bull Flag ) however, the R.S.I is now stuck in the "resistance zone" as well. Trading is generally staying above the red-line in the R.S.I Chart (signaling an impending breakout possibly). Expect resistance at 80% on the R.S.I. [ b]Support at $1.70-$1.50, with a "floor" (high level of support) at $1.50. Ceiling at $2.00 (high level of resistance).
Long
by marcosdaunte
Why breakout never worksHello traders! This is another educational post just to break your false perspective which will benefit you and it will also help you not to fall into the trap of uneducated traders. I have seen traders who just make a trendline line and put a bullish arrow and say that after the breakout price will go to heaven but in reality breakouts never works and they are very far from reality. If you buy a breakout blindly then there is only 1 out of 6 chance that you are correct. In other words, you will keep losing again and again with that strategy. So why breakout never works? The patterns that we see are illusions, they are not real but the market does react to the trendlines and patterns. What I mean by the reaction is that after a breakout market forms different kinds of reactive patterns. These patterns help the market to move further up or they push the market back in the trendline and most of the time these pattern pushes the market back in the trend. If you can figure out what pattern is formed after the breakout then you can predict easily that the breakout will work or it will fail. Do your research and ask the questions. Here is the tip: Selling on bullish breakouts is more effective than buying on bullish breakouts.
Education
by Aadil1000x
1