Algorand
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ALGOUSD You like ALGO? Grab it at about 40 cents!

Telah dikemas kini
Triple Confluence with fibs right now at S/R close to 40 cents.

In a huge bear flag after big distribution pattern.

Embrace the bears and cheap Algorand!
Nota
Sorry, I would consider this continuation pattern that AlgoUSD is in right now an ascending triangle - which typically you see in uptrends as a bullish continuation pattern - but during a downtrend it can act as a continuation pattern to the downside.
Nota
syot kilat to be fair - the BTC side of algo is out of its years long downtrend and moving along. The thing right now is - BTC's dominance chart is taking back dominance from alts, though. So, I think that many alts still have plenty of room to get clobbered.
Nota
syot kilat I keep coming up with the 40 cent area when I test more fib sequences - depending on where you place the big picture .786 - 50-57 cents may be a good area, too. 40 cents to 57 cents is my sweet spot for ALGOUSD. That may seem a bit wide, but I'm pretty confident in it.
Nota
Anyone following this - there is a chance that BTC actually does play out as a Wycoff accumulation, in which case, everything has probably bottomed. If we don't make a lower low - and hold above our previous low, this may just be the test portion of Wyckoff accumulation. We shall see.
Dagangan aktif
syot kilat Honestly, the real support is down toward 17-26 cents.
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