Get started

Algorand / Bitcoin

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Markets

ALGOBTC trade ideas

$ALGO/$BTC Out of RequestYou are showing bullish divergence on the macd, but not on the rsi. I don't recommend taking a trade in this coin at all. Sure, 4 hour macd bullish divergence could play out and you'll probably get a scrub rally out of it between the common retrace zones. But their is no reason to be buying at this price as their is no real support. In fact you only have one support left, break that, you could see much lower prices. I mean, I tried to plot a bullish butterfly but you exceeded the 88.6% retrace from b to c. So it isn't a valid harmonic anymore. The only reason why I could see you having a scrub rally from here is the fact that you are at the 25% retrace on the fib channel. But, you're in between support levels at no critical fib node. I don't recommend taking a position in this shit at all. Sorry ladies and gents. The scrub rally isn't really worth it if it even happens. Going through my Trading Strategy, this doesn't even make a quarter of the requirements for me to want to take a position in. So, I am not bearish or bullish on it. You have one variable that is bullish and that is MacD bullish divergence. Not even on the rsi and you are also at the 25% retrace on the fib channel, so you could have a scrub rally but not worth taking a position at this price. Maybe if we still have bullish divergence formed and we happen to forming a double bottom.
by ChArtWorks_TechnicalArts
$ALGO / $BTC Update 4 Bearish Cypher in play now?The Bullish Cypher has played out ladies and gents! We hit our PCZ and I took a position at 563 and 555 sats! I have taken some profit at two different targets, but now is where we need to start looking for Cypher pattern Targets. We're talking about potential price reversals to the downside between the retrace of the .786 also at wick A and also the 100% retrace taget at wick C. Right now, we have a potential Bearish Cypher in play and I do plan on taking complete profit in the pink Box if bearish divergence is showing. I will be taking profit regardless, but bearish divergence will determine if I take 100% profit or not. As of now, you have no bearish divergence and honestly it wouldn't be out of the norms if we sold off between 38% and 62% of our value gained before reaching the pcz of the bearish cypher and also creating bearish divergence. Just like what we saw with the bullish cypher. Before we hit the pcz, we bounced in price action for a 38% retrace before selling off to the PCZ forming Bullish Divergence. I am still holding some of my position in ALGO as of now. You are showing slight bearish divergence on the one hour time frame on the MACD. This may play out and we may potentially see a retrace before again "hitting the PCZ" of the potential Bearish Cypher! I hope everyone is doing well and we'll see what happens :D
by ChArtWorks_TechnicalArts
2
Potential Bullish Cypher $ALGO / $BTC Update 2Good morning ladies and gentlemen! I believe Algo is about to get real fucking crazy real soon! After a crazy impulse down followed by a wild downward consolidation, we may actually finally hit out PCZ of the Bullish Cypher pattern. This may seem crazy right now, because all you see is Algo dumping, but if we are seeing Bullish divergence at the .786 at around 560ish sats, then I am more than likely taking a long position! You're targets of entry are in the highlighted teal box. Breaking below that is not the best sign, and I do recommend placing a stop under the .886 at around 525 sats! If we hit the pcz and rally from there, Target 1 for Profit Taking is at 671 sats, Target 2. 738 sats, Target 3. 786 sats, Target 4. 847 sats and this seems like a long shot, but it is very possible and Target 5 would be at 1023 sats!
Long
by ChArtWorks_TechnicalArts
5
At the Bullish Cypher PCZ NOW? Update 3Ladies and gentlemen! We are currently at a potentially lower risk entry for $ALGO! We are showing Bullish Divergence with Down Sloping Consolidation after an Impulse up and you just so happen to be at the PCZ of the Bullish Cypher! Refer to Update 2 on the Bullish Cypher pattern for potential areas of price reversal! You really don't want to drop under 524 sats which is currently where my stop loss is placed! That being said, I'd like to discuss the possibility of a Bearish Cypher in play as well! The PCZ of that would be at ironically 786 sats at the .786 Fib retracement! These patterns are never certainties and they only help there case with coinciding variables such as MACD and RSI Bullish Divergence along with other pattern developments. Breaking the down sloping channel may be a bullish confirmation as well which we have not done yet! So keep an eye out. The Alts have been doing poorly against BTC pairing which is why I am extremely hesitant with taking alt coin positions. That being said, I do believe this is a potential bullish set up here! I'll keep you guys updated as always! :D
Long
by ChArtWorks_TechnicalArts
Flowers for Algorand (ALGOBTC)Currently watching ALGOBTC here for a possible entry. We broke out of the downtrend earlier this week and had first test of the 675 valley for a possible sign of reversal. Currently coming back down towards the start of the recent breakout at the 575~600 area. Would like to see this area hold over the next day or two if we are going to maintain uptrend. One of the few Binance coins with decent volume and on the FA side was recently mentioned that Coinbase was "exploring" the addition to their exchange. Entry: 580~600 (Needs to hold above 575 for a few more candles before I take entry) Stop: Below 575 Targets: 675 (dotted line tested level, would expect this to break if we move up) 731 (untested) 836 (untested) As always be patient with your entries and set stop losses. :) BTC Tips: 3KKD7YKR7x9c4AZJJ56XJA8F3hp7hWSpTX
Long
by TraderoftheCorn
2
ALGO/BTC (Algorand) Making Falling Wedge ..!!ALGO/BTC (Algorand) - In 4 hrs Timeframe, Forming Falling Wedge Pattern (Bullish) - May Be Test the Support Area Before Move Up. - Falling Wedge Breakout Expected If Hold then Bounce Back From Support.. Buy Around 500 - 520 Sats Sell Targets 560 - 620 - 680 Sats Stop Loss Below the Support..!! Please, give us your opinion in the comments! If you like the idea, please, hit the Like button and subscribe to the profile in order not to miss our updates. Join Telegram Channel for more analysis - t.me The information given is never financial advice. Always do your own research.
by Faibik
$ALGO / $BTC Theory Number 2 Bullish Cypher or the Bearish Bat??Good afternoon everyone! I originally had a potential Bullish Cypher pattern in development for ALGO! Which could very well still play out, although, if we confirm where we're at now as a higher low double bottom with bullish convergence on both oscillators, then we could potentially see prices up to about 815 sats again which would also be the PCZ of the Bearish Bat Pattern at the .886 fib! This is an area where one would potentially take a short. I listed this pattern as a possibility if we confirm a higher low double bottom. If we continue to go further, then I would look at the possibility of the Bullish Cypher Pattern. And to be honest, you would much rather have the Bullish Cypher Pattern play out over the Bearish Bat. If the Bearish Bat plays out, then ALGO could look real fucking ugly over time. Trust me! This remains speculation until we hit the PCZ of course! All Cypher and Harmonic patterns are just an idea until the Pattern Completion Zone (PCZ) has been hit. I will keep you guys updated as usual! Which is it going to be? The Bullish Cypher or the Bearish Bat pattern? What do you guys think?
Short
by ChArtWorks_TechnicalArts
5