Let’s break down this ALGOUSDT chart step-by-step — it’s a perfect example of trading patterns in action!
🏄♂️ Timeline (Aug 2024 - April 2025):
This chart shows how patterns like Descending Triangles, and Wedges can guide your trades. Spotting these using my Trading Patterns Cheat Sheet can help you time your entries and exits like a pro!
✉️ What’s your next move on ALGO? Are you buying the dip, waiting for confirmation, or taking profits? Drop your thoughts below — I’d love to hear your strategy!
🏄♂️ Timeline (Aug 2024 - April 2025):
▸ Accumulation (Aug - Nov 2024): ALGO consolidates between $0.1050 and $0.1450, showing low volatility. This is a classic accumulation phase where buyers are quietly building positions.
▸ Breakout & Uptrend (Nov - Dec 2024): Boom! The price breaks above $0.1300 with strong momentum, climbing to $0.6100.
▸ Pause in a Symmetrical Triangle (Dec 2024 - Jan 2025): After the surge, ALGO takes a breather, forming a Descending Triangle (a neutral pattern). This signals market indecision — traders are waiting for the next big move.
▸ Breakout & Downtrend (Jan - Mar 2025): The price breaks below the triangle, dropping to $0.1480. This aligns with a "Descending Wedge" (reversal) from the cheat sheet, confirming the downtrend and reversal structure of the Wedge.
▸ Consolidation (Mar - Apr 2025): ALGO stabilizes between $0.1400 and $0.1600, setting the stage for the next move.
▸ Breakout & Uptrend (Apr - April 2025): Another breakout! The price surges above $0.1600, reaching $0.2200 again. It might reach higher levels like $0.2400 and $0.3000 in next weeks.
This chart shows how patterns like Descending Triangles, and Wedges can guide your trades. Spotting these using my Trading Patterns Cheat Sheet can help you time your entries and exits like a pro!
✉️ What’s your next move on ALGO? Are you buying the dip, waiting for confirmation, or taking profits? Drop your thoughts below — I’d love to hear your strategy!
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.
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.