ALGO/USDT Massive Bullish Channel: Path To $1

4 Şub 2021

In my previous ALGO post I argued that daily momentum was very strong and that we would see more bullish action within this channel in the near future. After hitting the first target recently, momentum on this pair hasn't stopped at all. On the contrary, momentum seems to be picking up.

This had led me to believe that we can actually see a value of $1 soon for this coin. At least, assuming it won't hit the top resistance of the channel first.

Before entering this trade, wait for the daily candle to close above the yellow confirmation line. A bigger candle has a higher predicting power.

The main target resistance for this trade would be $1. As previously mentioned, if the price manages to hit the top channel resistance before that, consider that a valid exit signal as well. Do your own due diligence.

Happy trading!