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ALGO Perpetual Futures Contract

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ALGOUSD.P trade ideas

$ALGO Wyckoff Accumulation with Spring?WARNING: DO NOT TRADE ON THIS CHART I heard plenty of chatter that BTC formed a Wyckoff Distribution into the dip. Similar to $BTC, I see a fairly neat Wyckoff Accumulation here with $ALGO that may indicate we have seen the bottom. If this holds, we should go "back-up" and flip the resistance into support on a retest. However, I am new to this pattern and it is possible the "Spring" is actually "ST in Phase B". If that is the case we would drop below $.67. I would be happy to hear from someone more experienced.
COINBASE:ALGOUSD
by bmadden
3
ALGO - Perfect TechnicalsHey guys, hope every is doing well during this correction. This is the daily logarithmic chart of ALGO with an example play out of a typical Elliot wave analysis. I have moved my wave from my last couple charts due to the current changes, however the wave theory still applies even with a shift in the wave 4 mark. To me the ALGO technicals are following this typical Elliott wave example pattern to a tee, and with large buy volumes, it seems smart money is moving into the crypto space and is likely to move up again. This is a rough idea of what might occur so don't take the chart to heart, always due your own research to back up ideas. Nothing so far indicates to me that we are in a bear market, even with BTC falling. However we must keep a close eye on the 34 week ema of BTCUSD. We don't want to see a consecutive close below the 34week EMA, this then would then indicate a further correction for all crypto (ALGO included). This could see ALGO possibly drop to the next major support at 0.5... However, overall i'm bullish and accumulating high and low, with a lot of confidence that we will see an ALGO price above $2 this year. Remember to dollar cost average and enjoy the staking rewards. Thanks
COINBASE:ALGOUSD
by dp4379
1
ALGO - Purple War Zone! Update!As per my last analysis (attached below), we were waiting for ALGO to approach our lower green zone to look for buy setups OR break the upper green zone to look for buy setups on its retest. ALGO followed the first Scenario and now sitting around the lower green zone. so here is my updated Trading Plan: Scenario 1 - Purple : (Lower Green Zone - 0.900) Since ALGO is sitting around the lower green zone and round number 1.0, I will be looking for buy setups now. Scenario 2 - Red : (Lower Blue Zone - 0.500) Or if ALGO breaks below the green zone, then I will be looking for buy setups as it approaches the lower blue zone. As per my trading style: As ALGO approaches one of the circles, (purple or red) I will be looking for reversal buy setups (like a double bottom pattern, trendline break, and so on...) Always follow your trading plan regarding entry, risk management, and trade management. What do you think? Which scenario is more likely to happen? All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ALGOUSDLong
by TheSignalyst
34
ALGO/USD Possible Bullish Bat PatternTaking a look at ALGO/USD, it looks to be completing the C wave of a Bullish Bat Patten. Normally, I don't necessarily like to trade harmonic patterns, gartleys, or bats in the crypto market. It is a good tool for really technical traders who want to find a spot-on target. However, the crypto market is too volatile to expect such things. So I tend to stay away from them and look for mid-long term trends, patterns. That being said, expect this bullish bat pattern to trade within a range. You can use this pattern to find an entry range towards the end of wave c, and catch point D heading back up. Furthermore, point D, the completion of this pattern, coincides with the main trend line marked yellow. I would look to enter just above this point if you are looking to get your order filled. Fibonacci Analysis: It's always nice to see the initial correction bounce off the .618 in a bull market, which ALGO did, as seen with the blue arrow. But in this case, we will just use this as a sign that ALGO is trading healthy and keep an eye out for these key fib levels. I usually like to use these key fib levels in beautiful elliot wave patterns, not necessarily bat patterns. Hidden bullish divergence: IF this pattern continues down to the yellow trend line or around that area, I would expect the RSI to achieve a lower low. This would still indicate a higher low in price. This would confirm a hidden bullish divergence. If this is true, then we could say that ALGO is in fact bullish on several levels. Conclusion: Bullish Bat pattern, bullish fib bounce, hidden bullish divergence. Great entry point around POINT D. Can take profits at previous high and above. I will stay neutral for now because I do not short. But I will say LONG at the completion of this pattern. Of course...... I could be totally wrong.
COINBASE:ALGOUSD
by NoobTraderTV
30
ALGO [Algorand][USD] - Value Entry areas & Value Target areasI've been charting the stock market since the early 2000's and I've just recently gotten into charting Cryptos over the past few weeks and I'm starting to understand the behavior patterns a bit more now. I've noticed about Cryptos are that after they make an initial spike, they'll fall back down and settle into this low level where they just hang out for days/weeks/months until it's ready to make it's next run and when it does, it just shoots up in a straight line. So there usually isn't a gradual climb. In fact, the most recent climb from the support is about as good of a gradual climb as you get before it takes off and then it may never come back to this area again. This is what I see in ALGO, based off of the recent price movements.
KRAKEN:ALGOUSD
by TraderFromTheNorth
7
The curious case for #ALGO #AlgorandSteady as she goes nice and slow right to the moon... eventually. Slow accumulation channel for the inevitable future? and I'm okay with the steady gains in fact i'm down right happy. Trending with on chart analysis, more and more folks are jumping into the passive income train through staking (ie high dividend re-drip investments). This is quickly making ALGO a go-to coin for hedging a savings account against fiat. I will be watching #Crypto Algorand's career with great interest. What do you think about COINBASE:ALGOUSD future? And dont forget the COINBASE:ALGOBTC looks just as promising! -Cheers Bruce
COINBASE:ALGOUSD
by goodluckbruce
1
Algorand Channel Identified? 👀👀👀Over the last few days I’ve been watching Algorand. Of the alt-coins out there, this is definitely one of the most promising projects you should be watching. Pure Proof of Stake rewards is a great factor to buy and hold - especially if you are utilizing the Coinbase app where a poor entry can still be profitable if you hold for an extended amount of time. More specifically to this chart, if you are an aspiring crypto day trader, this coin presents a comparatively safe bet versus other similar coins such as Cosmos (ATOM) and Tezos (XTZ). A good entry appears to be at between 1.20-1.30, with upsides regularly returning to 1.50 and even up to 1.70 if you are patient. The next few weeks may shake out a new trend, especially with Algorand’s ‘Carbon Neutral’ sentiment, where in a Post Tesla/Bitcoin split market we may see Pure proof of stake (PPoS) based currencies take over energy drainer PoW coins such as Bitcoin (BTC).
COINBASE:ALGOUSDLong
by IbexiSterlinfa
$ALGO. Looking to enter a long term position.This seems like one of the more stable investments in the crypto space to me. It's got a lot of interest, and I think a lot of bargain hunters probably have it on their radar. Will there ever be a major catalyst and we see it hit 5$? I'm not so sure, but it's good to have the attention. To me this is a pretty solid investment, and I would hope to see at least 100% return within the year. Maybe more if crypto can stay hot through the summer. Some small portion of my portfolio will probably become ALGO in the near future. Crypto has been a really off and on market until the recent bitcoin run. Is bitcoin overpriced? Last time we thought so we were dead wrong. So is it here to stay this time?
KRAKEN:ALGOUSDLong
by emehoke
2
Crypto Market crash over? BUY THE DIP!Yesterday evening, just as the crypto market day was coming to an end with some bullish momentum, an unexpected tweet from Elon Musk, CEO of Tesla and SpaceX, caused the crypto market to crash the hardest and fastest in the shortest time. This caught most investors off guard and many crypto traders have had a really bad day today. But what if I told you that I am actually closing today on a BULLISH note. My crypto portfolio has gained about 10% today. Now as hard as you think that might be or as lucky as you think I am, I am here to tell you that it really takes nothing much. I will explain it briefly but effectively below. The most important steps to gaining on any day and especially CRASHES are quiet simple, some of the most important steps are: - Diversifying your portfolio into many different crypto coins, but only coins that are known to be somewhat stable OR move in a correlation with Bitcoin. The variety of the coins you choose are up to you, but I have previously posted a few Alt coins that I trade. More to come soon! - If you are trading with or without specific budget, always make sure to keep enough extra cash to buy the dip. Buying the lows can actually help recover losses quicker and allows you to aim for higher profits overtime. - I personally believe that the following RULE is the Golden Rule and should never be broken. Most beginners do not have enough experience and do not know how to properly deal with profits. The most important thing a trader can do before investing is set a specific target they want to reach before starting. Speaking from experience, not having a specific target can ultimately make you hungrier for more, leaving you paralyzed and unable to hit the sell button, hungry for more. This can be disastrous as when the market quickly rises, a quick drop is inevitable, stay aware of your goals and follow them. - Do Not let FOMO eat you up, FOMO: Fear of missing out The very best traders always miss out on opportunities. It is very important to understand that you will not be able to grab 1% of all opportunities in the market. The most important thing to focus on is to make the most of the opportunities in life. I hope you found this helpful, a like would really be appreciated. I will not suggest following me because you should be intelligent enough to know that following me is the right choice. I post daily content on crypto and stocks !
COINBASE:ALGOUSDLong
by TraderThierry
2
LONG $ALGO - CHEAP DECENTRALIZED PROOF-OF-STACK BLOCKCHAINI really think this coin will be a game changer in the proof of stake world. Currently it only has over 0.5% of volume on Coinbase so it has a lot of room for growth, especially with the 6% APY with no stake locking. Its traded on multiple exchanges with USD on ramps and while Ethereum has problems with high fees I think this is a great alternative. People are running to crypto because of inflation and how money is controlled so I would bet people will enjoy Algorand for its fast transaction speed and great APY return. DYOR
COINBASE:ALGOUSDLong
by SeanCookie
1