Algorand (ALGO) Possible Breakout Idea.

1 Nis 2022

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.

2 Nis 2022

Not

Breakout has been completed.