Algorand Confluence Strong

6 ngày trước

It's quite the busy chart but it's all about confluences. And right now I'm seeing strong confluence, which is a vote of confidence for me.

1. Bullish divergence with RSI signalling 5th wave completition (corrective)
   
2. Falling wedge boundaries being respected
   
3. RSI climbing slowly but surely
   
4. Bounce off .786 fib retracement and making a HL (need to see HH next)
   
5. RSI is now bullish on the 2D TF and up
   

If this is wave 1 of the current cycle and with a severe correction to .786 Fib, Algo won't correct much at wave 4. Meaning it's up and only up from now on till the fifth wave sometime in 2025.

This NFA!!

3 ngày trước

Giao dịch đang hoạt động

This is I'm watching in Algo over the next few weeks. Ideally, a retest of the wedge in the form of a candlestick that gets clearly rejected to the upside and then a close higher than last week's bullish candle. That would seal it for me!