ALGO.BTC (Y20.P3.E1).Bullish mid macro structure

20 Ağu 2020

Hi All,

ALGO has bounced back strong and is likely to break this resistance today or later.
The ghost pattern has been borrowed from the LEND/BTC chart and as such its a bullish formation or similar.
I bought the dip, now its a question of what will it do.
Note: Another Defi that its likely to give big gains.

MY THOUGHTS:
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By now or weight for the pullback to the fib level as per the chart.
From a MACRO perspective, there is layers of resistance however this one is the main one. In many cases when the main resistance breaks the rest is like butter, Eg. BTC with 6K I think last year.
Note BTC dominance is dropping slowly.
The daily shows sideways movement and the 2 day chart shows upward pressure slowly building so my thoughts are that this resistance will be chipped away and hence the pullback to maybe the 0.382 on this chart.



Please give me like or tick for this post.


Regards,
S.Sari

Close up view on the daily


2 day chart


Macro structure overview.


LEND.btc chart

21 Ağu 2020

Not

stalking but for now, its got downward pressure. Review again in 10 hrs

25 Ağu 2020

Not

Daily chart shows pressure even out. Question is what will BTC do from here at 11585. If it doesn't hold, then point E is the bottom, the trend line. Again, wait another 8 or 12 hours to see the formation. I am still waiting for a clearer bullish sign.