Hi Everyone! ALGOUSDT has been in a Descending Wedge Accumulation Schematic; kind of similar to BTCUSD. However, BTCUSD transitioned into Phase D much sooner. Why? The Composite Groups (who manipulate the market) wanted to accumulate more Bitcoin on the Altcoin/Bitcoin Pairs. "They" also accumulated more USD and USDT on the Altcoin/USD and Altcoin/USDT pairs and used it to assist with pumping up BTCUSD with an SOS in Phase D much sooner; while dumping alt-coin/USD pairs.
I'm leaning more towards the peak of this Sign of Strength in Phase D reaching its peak between $0.2211 and $0.2365. Then that will be followed by a Back-Up/Last Point of Support Period in Phase D.
Happy Trading and Stay Awesome!
David
I'm leaning more towards the peak of this Sign of Strength in Phase D reaching its peak between $0.2211 and $0.2365. Then that will be followed by a Back-Up/Last Point of Support Period in Phase D.
Happy Trading and Stay Awesome!
David
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UPDATE:ALGOUSDT reached our 2.618 FIB Extension Range. If you click "play" on the interactive chart above, you will see this is where the Sign of Strength event reached it's peak.
Here's a present day chart as well to show it reached our target.
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UPDATE:I opened a new long position at $0.2025 (Just before we started going up hard again. Simply informing I just closed 75% of that position at $0.2474 and letting the remaining 25% of my position remain open for now to see if we may continue to the 3.618 FIB Extension Range of $0.2742 to $0.2955.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.