Algorand (ALGO) Possible Breakout Idea.
Possible breakout for both downtrend and fib wedge resistance. These are pros and cons of this setup
PROS
There is a Bullish Divergence in Volume Price Trend indicator. (by:AdonisWerther)
The wick of the last low didn't go below last lows wick.
Strong support at 0,8861 levels.
Price is still trying to break fib trend resistance.
CONS
Buyers volume is still low.
With low volume price could struggle to break 2 resistance at the same time.
Bitcoin could go below 45.000 (it can be seen as ALGO rejetcing from resistance).
New Higher Low.
PROS
There is a Bullish Divergence in Volume Price Trend indicator. (by:AdonisWerther)
The wick of the last low didn't go below last lows wick.
Strong support at 0,8861 levels.
Price is still trying to break fib trend resistance.
CONS
Buyers volume is still low.
With low volume price could struggle to break 2 resistance at the same time.
Bitcoin could go below 45.000 (it can be seen as ALGO rejetcing from resistance).
New Higher Low.
Nota
Breakout has been completed.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.