lukeyhwh

Big sell off to scare people out of the market. It will likely move higher to 70c and then to 90c. Big long term triangle. A crypto that is already being used in multiple real life, renewable energy projects in Australia and India. Trading renewable energy instead of buying power from the grid is a realistic future.

Powerledger is one of the few crypto currencies with huge potential. Rather than just being a community meme coin, it has already established itself in the renewables sector - a billion dollar, real-world industry. This means it could be a fantastic investment option with stable, long term growth. From a Technical Analysis viewpoint, the chart is also looking potentially very good. A possible ascending triangle that has been in the making for several years. A break out of this ascending triangle could result in a nice move to the upside. With a low marketcap, I think this crypto could easily move upto $2 in the near future.

Algo will likely retrace lower, if we close below the previous large bullish candle. Looking at the weekly RSI, we see Algo had pulled back at the same level on the first wave of its last bull cycle a few years ago. We have also not closed any significant bullish candles on the lower time frames as of yet, to reclaim the recent large sell off candle. Despite aggressive buying at the Fibonacci levels, we could see bullish momentum ease off for a short time. If price action is maintained in the current range, I'd consider looking at more bullish signals.

We broke above the resistance line of the larger bull flag. My previous trade idea of a small bear flag within this pattern became invalid after this breakout. Any losses going against a trend or pattern can be made back by reversing your position once your previous trade idea becomes invalid.

It appears we are forming a bear flag and the measured move can be seen down to the 0.10c area.

I believe price will retrace according to the red arrow. We had a triple top after a decent run up. Now we distribute and move back down to a strong liquidity zone before heading back up

This is the small time frame fractal I observe playing out on the daily chart. A break out to the upside of this pattern on the smaller time frame could carry over to the higher time frames.

Based on a current 3m chart analysis and comparing it to the daily chart, I have spotted a potential fractal pattern that may indicate a reversal is on its way on the daily chart. Looking at the 3 minute chart over the past 2 days, I see an identical fractal pattern, as indicated by my blue squiggles. I encourage you to analyse the 3 minute chart on the 2 most recent bullish candles and see this pattern for yourself. Algo is super supressed, but we also see that the selling volatility has greatly reduced over time, with less severe sell offs. This could also indicate reduced selling pressure and a chance for a reversal.

We see a rising wedge pattern and lack of liquidity. BTC will head lower after falling out of the rising wedge. The lines I've drawn show where the price will drop. Price could drop further, but I speculate we will reaccumilate back down at the bottom of the wedge.

Downside is continuing. I have not seen any strength or signs of bullishness in ALGOUSDT as of yet, and have not been trading at all. I am expecting more down side as the recent trading ranges have collected all liquidity and there is now a lack of liquidity to move price higher. Capitulating to the downside will allow new buyers to enter the market and allow those who have taken profit to re-buy into the market. Many retail traders are trying to get in at the "bottom" of the market, but it is still too soon.