ALGO falling wedge present (continuation pattern)
Hey everyone,
I predicted accurately the rise of ALGO with the cup and handle formation last post, but then again any altcoins that has any utility got bought so.
If you're not in the ALGO reddit community check them out by typing AlgorandOfficial on reddit and browse why ALGO is on the rise fundamentally.
Anyhow, since we are talking about the technical analysis. We can see a retrace to between the golden fibo zone (38.2%-61.8%) and we have strong support around the $1.23-1.25 area.
So we can expect to see a breakout in the next couple of days breaking ATH to above $2~ zones.
If the support fails around the $1.2-$1.25 area fails we will re-evaluate then. But these are my current thoughts.
Still highly bullish ~
I like this asset. :)
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Full disclosure: I do own this asset. My ideas/opinions are for education and entertainment purposes only. NOT advice or predictions for investment choices. I’m not a certified financial planner/advisor nor a certified financial analyst nor an economist nor a CPA nor an accountant nor a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational and entertainment purposes only and does not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
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I predicted accurately the rise of ALGO with the cup and handle formation last post, but then again any altcoins that has any utility got bought so.
If you're not in the ALGO reddit community check them out by typing AlgorandOfficial on reddit and browse why ALGO is on the rise fundamentally.
Anyhow, since we are talking about the technical analysis. We can see a retrace to between the golden fibo zone (38.2%-61.8%) and we have strong support around the $1.23-1.25 area.
So we can expect to see a breakout in the next couple of days breaking ATH to above $2~ zones.
If the support fails around the $1.2-$1.25 area fails we will re-evaluate then. But these are my current thoughts.
Still highly bullish ~
I like this asset. :)
---------------------------
Full disclosure: I do own this asset. My ideas/opinions are for education and entertainment purposes only. NOT advice or predictions for investment choices. I’m not a certified financial planner/advisor nor a certified financial analyst nor an economist nor a CPA nor an accountant nor a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational and entertainment purposes only and does not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
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Comment:
Prediction failed. No entry at this time.
Fei
