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Algorand / Bitcoin
Long

ALGO/BTC Downtrend Channel Takes Shape

Par tat_2
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ALGO/BTC in a perfectly parallel downtrend channel. As a comparison, when MATIC started trading on Binance, it went steadily down for two weeks, losing significant value. ALGO has been trading for a couple of days and is already well on its way down. The ALGO price was obviously overvalued at $2.40 USD. It could go much lower from here. Or, who knows, it could turn around and try to retest its original valuation. The latter seems less likely, given the strong downtrend it's in.
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TD Sequential on a 35-minute TF is interesting.
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snapshot
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Wow, ALGO going for channel breakout already. snapshot
ALGOBTCTrend Analysis
tat_2

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