ALGUSD trade ideas
algo at critical resistanceif algo doest desescively take this , it risks stayng low for longer but , it depends it it moves over 1.00 so keeping an eye
ALGO - Took the opportunity to add some sub $1Sellers seem to be subsiding on dumping ALGO, and surprisingly, my Binance account actually allowed me to purchase some ALGO today.
I'm half tempted to just empty the account, since it has been locked for no reason for about 3 months now. But anyway, got in on a good price, and was able to add more.
Might not be the best entry, but it is a good one.
$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.
ALGO - Easy Buy Setup ALGO is testing a new bottom as the downtrend looses steam, this is the perfect time to watch for trend reversals.
The bottom rectangle is the area in which a candle must close to confirm a double bottom pattern. After that, the local resistance needs to be broken to confirm a reversal pattern.
If so, a buy setup forms on the buy zone retest.
Target: $1.35 - $1. 40
ALGO Dragon double bottom longAlgo double bottoming with bullish divergence on both oscillators, bullish pinbar candle to boot, Target the .5 and .618 retrace
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
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
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.
ichimoku trade : short positionichimoku signal:
short position:
enter at 0.93$
stop loss kijunsen with buffer
AlgoRand (ALGO) has a path towards all time highs in the makingALGO is trading above key support levels 1.10 , 1.20
-strong project
-strong volume
-still relatively unnoticed
-above 2.00 all bets are off, this can moon to 5.00+
ALGOUSD Double BottomALGOUSD formed a double bottom here close enough to the 61.8% Fib retracement line, showing respect. Looking for a move like this.
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.
ALGO projection and trends experimental chartA chart which I am working on using long term moving averages projected about a year in advance of the chart, so that the data is roughly adjusted to what it was about 366 units ago.
Combining this with trendlines to predict the general direction of movement, with traffic light guidelines for picking buy sell hold points for positions.
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
Are you staking Algorand yet?Staking doesn't get much easier than using the Algorand Mobile wallet. Plus it can integrate with the Nano Ledger.
This is my 4th favourite crypto because of
- The backing by MIT and their computer science professor
- Goal to become the greenest crypto project
- The low transaction fees and fast speed
- Pure Proof of Stake model
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).
$ALGO. Looking to enter a long term position.This seems like one of the more stable investments in the crypto space to me. It's got a lot of interest, and I think a lot of bargain hunters probably have it on their radar. Will there ever be a major catalyst and we see it hit 5$? 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?
This Algo pattern has been forming for many days counting This triangle pattern has been in development for quite a while now, I believe a breakout soon is imminent. Not even overbought at RSI. What are your thoughts?
ALGO Retest Completing - Ready for a PumpALGO just completed its retest @ a support of $1.30 and has started its recovery.
The 1D candle needs to close above $1.40 to confirm the breakout.
Target: $1.70
