ALGOUSD CLOSE TO BREAKOUT

Algorand / USD BINANCEUS:ALGOUSD

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ALGOUSD is finishing bullish wedge pattern, we already bounced two times and closing in on breaking it upwards. We should look for a retracement back to 50% fib.

Aroon: On a daily timeframe it is already giving us an entry for a bullish trade.

Macd: is showing bullish momentum gain but we need to wait for a signal line to cross.

Bollinger band: We already bounced off of a bottom of a Bollinger band which indicates we should go long.

Entry: 0.77
Invalidation: 0.600
Target: 1.66
Ratio: 1:5

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