inverse head and shoulder in this crypto like algonow we watching this coin broke the neckline of that inverse head and shoulder
ALGUSD trade ideas
ALGO, being pump I will look to hold some at 0.79ALGO, being pump I will look to hold some at 0.79
This is not a financial advise or recommendation.
ALGO/USDT - Potential 123% SetupHello Traders!
After finishing the downward movement, the price of ALGO returned to the zone of interest of buyers $0.695 - $0.890.
It is possible to consider medium-term purchases in the range of $0.695 - $0.800. Price movement under $0.58 will be a trigger for closing the position.
For a short-term trade it is better to wait for a breakdown of the downtrend, the price exit beyond the price level of $1.07 and MA100 on a daily timeframe.
Targets will be price levels of $1.46 and $1.79
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
ALGOalways loved this one ever since i heard the feds were in on it, hughly bullish, government wants controle theyre going to get it, govt blockchains to the moon!
ALGO - Video Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for ALGO.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!
All Strategies Are Good; If Managed Properly!
~Rich
Algo bouncing on a critical support $0.67Algorand bouncing on a critical support and respecting the .786 fib (from all-time bottom to all time high).
Hopefully algo will decouple from bitcoin trend and go for the shooting start.
algo/usdTesting/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice.
The bottom is pretty much in. We have the first wave (1) completed and wave (2) is just about done. We should be working on wave (3). If you compare this chart to the previous, the price targets are relatively the same. I've added a new wave (5) target to make this chart more accurate.
Wave (1) - 2.5: done
Wave (2) - 0.60 : done or one more leg down 0.25 is lowest.
Wave (3) - 6.3-6.9
We are living in crazy times at the moment. We have a lot of crazy things going on such as pandemic and war etc so anything goes really. Your best bet is to dollar cost average down and stake. This is not financial advice.
Link to previous chart:
Expanding Diagonal for ALGOUSDLeading Expanding Diagonal (3-3-3-3-3)
Rules:
Wave 1 shorter than Wave 3
Wave 3 shorter than Wave 5 (sets 7$+ target for Wave 5)
Wave 4 must overlap into Wave 1 territory
Can overshoot or undershoot the top trendline
Additional comments:
Local bottoms seem to be equally spaced according to time cycles;
Stochastic RSI is deeply oversold on all major timeframes (Daily, 3D, Weekly and Monthly)
It might go lower than current price but a major move to the upside should be starting soon
There's also a lot of fundamental bullish news for Algorand in 2022
This chart is for educational purposes only, it's not financial advice
Bullish $ALGO Technicals Supported by Super Bullish Fundamentals$ALGO is in a clear long-term uptrend.
It is now retesting the bottom of the rising channel.
MACD has bullish divergence. MACD is starting to reverse while price continued to slide down on lower volume.
Stochastic in extreme oversold territory.
Algorand's super bullish fundamentals will propel $ALGO to all new time highs.
Once escape velocity is achieved to all new time highs, $ALGO will then enter price discovery mode and break out of the rising channel for a parabolic move.
Major fundamental catalysts to provide the rocket fuel are:
1. Multitude of DeFi projects launching in coming months with no end in sight - amplified by incentive reward programs to bootstrap the DeFi ecosystem - TVL boom
2. Staci Warden as new Algorand Foundation CEO with aggressive marketing and PR strategy
3. Algorand protocol upgrades and TPS boost
4. Multi-chain bridges - Glitter, Applied Blockchain Ethereum London Bridge, C3 Protocol
5. Institutional and enterprise implementations - SkyBridge, NAX, UNLOX, real estate (Vesta Equity, Homium, Lofty AI, QuantmRE, etc)
6. Government national initiatives
Falling WedgeALGO building a falling wedge right on big support w/ slight bullish RSI divergence. ALGO held up better yesterday than most, which is a change in character. May be time for a relief rally towards $1 barring any crazy headlines
1 Hour Bullish Shark Entry on ALGOWe have some Bullish Divergence on the RSI and will likely Develop some on the MACD i already entered at lower prices from the bigger more MACRO setup i posted for ALGO but this looks to be a good secondary entry that could perhaps even take us above the hourly targets and into the weekly targets.
ALGO Retracement from 2/28 on the Daily 15 min After Pump 88+I am publishing this chart with the current idea that I may wait for a buy in until this retraces back into the .84 range.
My overall consensus is Bullish with a healthy pullback before the next target, .92+
ALGOThinking ALGO ran The Fib extension gambit here all the way to $3 back in Aug 2021. (luckily some of our members took part in this move as I alerted the buy around $1 I think back in July 1 month prior) since then Algo stays inside 1 brutal correction and I'D say .53c gets tested B4 we can resume the run. But the wick to .67c bottom channel TL does show massive support.
So kinda hard to call here, but if my BTC analysis is correct in projecting BTC double bottom after we finish this B wave then ALGO will likely hit my lower bearish targets. If my BTC analysis is incorrect then likely ALGO has bottomed. Let's keep an eye on this.
4 hr. also Weekly Close ALGOUncertain here, the Weekly is coming to a close, green Doji however in light of certain events in our geo political environment, I am going to wait for this next candle and take another peak assessing volume as well.
Are we headed back to the larger structured falling wedge?Divergence on RSI and MACD so I think there is some momentum building for some movement. We could be 50% through head and shoulder reversal. I would freaking love to see this happen. Get back into a giant falling wedge like that & if we get an upward break... it could be one for the ages.
I am keeping eye on for now, because a reversal pattern that I can see has not necessarily printed yet. Be careful, crazy times right now. The momentum building could send it the other way just as easily.
Bullish Shark Could Take Algorand Up 400%We have a bit of Bullish Divergence on the RSI and MACD at the PCZ of this shark best case scenario is it comes up to make a Higher High at the 1.618 Extension
ALGO - looking bearish to me !!!Break-down out of the wedge.
Backtest complete.
Starting to sink.
Not pretty to watch !!
ALGO UpdateUpdate on the ALGO chart. Going to be showing my position here, which is in the blue(red). Algorand is a project i have a lot of faith in so i am not worried and will be loading up on this dip that could be coming. I think we will be retesting some support zones sub $0.50. This is a really long 10 year+ position i am building so will be purchasing as much as a i can once we get into these lower price zones. Good luck all!
ALGO - Ascending Broadening ChannelAscending broadening channel - a bearish reversal?A negative breakout and retest. Will this be a bearish reversal pattern?
ALGO bull experimentI know this chart looks super weird, but there's a method to the madness. I'm personally SUPER confident in the first move up to around $1.30 near Valentines day. If we make it that far and then start to drop, then this chart is going to get interesting. If it fails to reach $1.30 in the next week, then this post is going to be an ugly stain.
ALGO bull experiment revisedSmall revision on my previous post. Let's take this one step at a time. First target is $1.30 within the next week. Troughs are aligned, but peaks are phase shifted. Let's see what happens.
