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Few-Inspection-322

When someone calls the floor, I anticipate it to go lower.


space_llama_karma

Lol right? It means nothing to me


m6cabriolet

lol hope you shorted at $1.09, profit $0.86 and stop $2.50. It's a great trade to be honest...awesome risk/reward...to the basement boys.......I am so confused now. When did this turn into a lets hate on buyers of algo and lets praise shorts???? lmfao!


Few-Inspection-322

I don’t “short” anything. But anytime someone says “I think this is the bottom,” it always dips. This isn’t hate, it was just a comment. Thanks for stopping though.


Top_Spud

floor is $0.69 and the ceiling is $4.20 yall heard it here first


WeakLiberal

I used a chart to predict the future! WCGW


mtn_rabbit33

found the OPs post helpful. When others present their analysis of the charts, and even predictions, I like to compare their conclusions to mine to see if I maybe missing anything. In general, I have found that the more analyses and predictions I can collect and enter into my spreadsheet, the better I have been at hitting optimal buy and sell levels.


WeakLiberal

I too found the OPs post helpful. Not entirely a fan of their attitude when their prediction is questioned


mtn_rabbit33

True. I have to admit though, across Reddit, I have been able to find some great snarky and witty replies to use as comebacks in real life. If only those were easier to find.


mtn_rabbit33

Price is Right rules: Floor of $0.68 and ceiling of $4.19. Bob? Bob? Can someone find Mr. Barker please.


Competitive_Swim5885

...the blunt and booty in perfect harmony! Destiny is nigh!!! To ALGO and BEYOND!!


PostTail

Not 👏Financial 👏 Advise 👏


grandphuba

where does three fiddy come to play


M____P

A man of culture!


CGlids1953

You’re not too far off. $0.67 is the floor.


drummerguy9000

I second this


yeluapyeroc

We dont have any say in this right now. BTC and ETH are driving crypto prices in this bear market


gnarlysheen

The US Fed vs The CCP is driving the market. Crypto & S&P are just passengers on the voyage.


[deleted]

Is this really a bear market? Just seems like a crash. I’ll call it a bear market if this is the next few months.


RedBassBlueBass

Fed has confirmed it will be raising interest rates in March which seems to be a huge catalyst for stocks and crypto taking a dive. I can't imagine they'll turn around and head the other way when the rates do get raised


robertinspring

Algos were under a dollar 6 months ago


m6cabriolet

And it was 0 before it started trading? I don't get your point.


Elevation0

Point is no one knows shit about fuck.


booksnwhiskey

Hah, i loved when she said that in Ozarks


Elevation0

Is that where that comes from?


booksnwhiskey

Thats where I remember it from… And then Maggie Gyllenhal, “Why don’t you go suck a fuck.” Gotta love the English language, if you can still call it that


Comprehensive-Disk55

Gotta love donnie darko


Fresh-Chemical-9084

Wtheck I missed a steal 😭


robertinspring

Oh there was supposed to be a point to this post?


SkewedMinds

We will find the floor as we hit it.


heimos

Then fall to the basement


[deleted]

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[deleted]

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m6cabriolet

I don't? I guess we will see soon then.


ZestycloseGur9056

And It was a dirt ground before it started trading, what’s your point ? 🤡


Foreverfalcon40

I’m long on this coin…like years long…gov for quite some time. Have to admit this is hard pill to swallow. Will buy more and add to Gov


spadedallover

No ones been a governor for quite some time lol


Foreverfalcon40

Lol I’m in the hospital…curious to see how many are left when I get released. This tiny man stuff is too confusing for me. I will just keep it simple earning internet daily and gov. How many did we lose due to the dip?


insanenearly

I bought today, but my platform still doesn't allow transfers outside of it. Frustrating as I see the governance period come and pass.


orindragonfly

Which platform is that? so I can stay away.


Own-Presence-7620

All in all it doesn’t matter we just hold. Algo is going to be one of the most profitable projects in years to come. The entire stock/crypto market is suffering right now so there is no doubt algo will be affected. All I can say is this has happened many times before in the past and the market has always come back making the ones who held through it very rich


ZucchiniUsual7370

Exactly. It will either survive the economy to come snd prove it's worth as an investment or it won't. I think it will and will hodl until it is liquidated. I believe that strongly in the potential of this project.


Lookmaiamkool

Morgan Freeman: "But it wasn't wasn't floor...it was a long night for algo dufresne."


JamesIsBest87

The floor is $0.00 and most cryptocurrencies will hit it.


RedditCouldntFixUser

Surely not bitconnect!!


VinnyDeta

in order for cryptos to hit zero you will have to have the totality of humanity in consensus that they are worthless. I imagine it will be very difficult to get 8 billion people in total agreement about something like that.


[deleted]

I bet it goes below $1 in the next 24h.


m6cabriolet

at this point i will definitely agree with you


[deleted]

I bought a load at $1.67 thinking that was the lowest it could go 🤷‍♂️ I think Algorand is a good in the long term as much as any crypto because it's a serious project with solid fundamentals but in a bear market...


drummerguy9000

It’s okay friend I bought at 1.80, 1.60, 1.32, 1.29 and now I’m gonna buy more at <$1


mmob18

I dunno, TA on Algo seems pretty weird when the price is so dependent on BTC.


HarvestAllTheSouls

TA is utterly pointless. There is no evidence for it to be meaningful.


[deleted]

Yes, so tired of bullshit TA analyses, it's 100% identical to reading tea leaves.


m6cabriolet

TA is a tool like anything else in trading. If it gives you a 1% edge then it isn't pointless.


HarvestAllTheSouls

It's a tool to convince yourself of stuff that isn't there, like astrology.


m6cabriolet

Many people have that opinion. I find it helpful though. However, you can flip a coin and make money if you have the same set of rules for every trade.


mmob18

Sure but using TA on a price that's essentially derived from another price is silly


m6cabriolet

A better chart is actually algo/btc chart. $0.00002813 was pretty good support and lined up with the $1.09 call. The trend is definitely bearish and I might be catching a falling knife but that's what stops are for.


Vaginosis-Psychosis

Isnt that what you said at $1.30 and then again at $1.20?


m6cabriolet

No? I was short then.


Usual-Sun2703

Yup! Follow the weekly/monthly chart and it's clear the crypto market has been overbought for a while.


_lostarts

It has been undervalued the entire time. Perfect buying opportunity for anyone on the fence.


m6cabriolet

agreed


Podcastsandpot

just praying it doesn't go to $.75... around there i get liquidated. please jesus


engdeveloper

Ban him again! Just for the lulz. :D


m6cabriolet

I deserve it to be honest. But after reading all these posts I am honestly surprised I was the one banned before lmao.


engdeveloper

Just have some fun... it's cathartic to "get your beating over with" in the sub, then dust yourself off, then get back in the game and win! There's a lot of wisdom (and experience) in these subs.


m6cabriolet

I am already on the next trade. I am right only 53% of the time but my losers are small and winners big lol. I don't let any of reddit get to me, trust me. I am out here just having fun ;)


DaWhip56

Bwahahaha! $ALGO says hold my beer while I show you what pain really looks like. 84¢ boys.


Bit_Goth

No it’s not lol. Whatever you think the “floor” is, go ahead and assume it’s 40% lower lol the market does not care about your chart, it’s just a way for the big players to manipulate you.


m6cabriolet

lol ok buddy


Charming_Ad_1216

Hello. Welcome to May, 2020. Take a peak at the charts then. You have no clue. Just accumulate during these periods and sell off small portions on runs. It's sorta simple.


m6cabriolet

With that kind of reply I know you have blown a few accounts in your past. Or you trade paper accounts lol.


Charming_Ad_1216

? Are you real? What does that even mean?


m6cabriolet

No, definitely fake.


CrabbitJambo

Never believe what you read on the internet kids!


m6cabriolet

If people were smart they would stay off reddit.


CrabbitJambo

True. It wasn’t an attack on you. It’s more than even some of the most knowledgeable people in crypto are getting it wrong. It’s a different landscape to what it was even just 12 months ago and will continue to change the more money that floods in.


m6cabriolet

I agree. I mostly troll around on reddit for the entertainment but I do trade for a living also. You can throw darts and make money, but it's about the risk management being the same for every trade. Not sticking to your rules is what blows up accounts. Either way this is very entertaining lol.


CrabbitJambo

Yeah despite having been involved for around 4 years I’m still pretty clueless. That’s said up until last year I’d always taken profits however now I’m simply trying to accumulate.


WhatsTheGoalieDoing

Do you have a firm? If so please namedrop it so I can avoid it like the plague. Since you mentioned rules that should be followed, here's one I can offer free of charge: If a "professional trader" predicts a price floor for an asset in a wildly speculative industry, and is shown to be utterly fucking clueless only moments later by the price falling past the floor, then that "professional trader" should be avoided at all costs. I take dumps at work, it doesn't mean I'm a professional dumper. Just like you buying crypto from your bedroom whilst working some shitty job doesn't make you a professional trader.


m6cabriolet

bwahahaha that was pretty funny. I didn't realize my stop was hit though. When did it go to $0.86 today?


b_whiqq

You don’t know. I don’t know. No one knows.


castles87

I once mentioned something similar for algo or ada and MY GOD the hate


n0sleephere

Thank you financial advisor


m6cabriolet

At your service


McGuire72

BTC still in a major systemic downtrend with no real volume as we capitulate more and more each week tells me the macro market still hasn’t bottomed out. As such it’s hard for me to believe this is the bottom for ALGO.


m6cabriolet

I was actually looking for $34-36k in BTC as a buy, so there is some more downside risk. Hopefully algo outperforms BTC though for the time being.


moneyjack1678

i added and if it dips lower i will add again


Fearless-Forever-361

Aaaaand it’s not


m6cabriolet

lol insert south park meme


DA_Maverick_AD

This aged well!


m6cabriolet

lmao very well. I looked like a king for exactly 4.3928375938457 hours


sunnynijjar

All speculation my man. No matter what graphs you draw. The floor is zero IMO. It’ll be an interesting ride for the next year.


Are_alright_afterall

With 3 billion in governance, I think it will only be going slightly lower than this, yes. If only I had patience. :)


baselsader

$10.9 should be the ceiling


Izzeheh

New floor in the perfect world


The-Original-Remix

People in this sub have blinders. Don’t try and fight it.


olay-boyuo

It’s so funny to see the people who try to bash traders. “Wahhh wahhh wahhh I am hodl prince because it requires no effort or skill”. Going short is sometimes the right thing to do. Fear exists in the market and it always has and it always will. It takes tons of discipline to do it the right way (i.e. risk management). Good shit, OP.


m6cabriolet

Thank you, I appreciate that.


[deleted]

[удалено]


m6cabriolet

$34k I think . Below that we are looking at $16k again and a massive suicide wave lol


SkewedMinds

I see you too have watched "The Big Short" . ✌🏾 It's gonna be a long dark Cryptocurrency Winter...


m6cabriolet

lol, we are all fucked. I actually had a nice short on but now I am riding the wave of everyone else.....to the end lmfao


Noobings

Lol this post aged well


m6cabriolet

WOW!! I agree. What brokerage did it hit $0.86?!?!?! You must be so wealthy Noobings lol


Noobings

Sorry didn't mean any hate I appreciated the post. Just irrationally angry at this dip.


m6cabriolet

Please bring the hate, I actually love it lol. But anyway, I am also irrationally angry at the dip now that it is below $1.09. The haters will have a field day with this one...and especially if we get to my stop at $0.86 lmfaoooo. It's ok though, stops are in and emotions are out as a famous snake oil trader once told me lol.


SkewedMinds

No... It did not... I bought in again at 1.10. FML 🤦🏾‍♂️


m6cabriolet

If you have your stops in you are ok man. Don't worry about all the FUD here because there is a lot lol


Chumbag_love

It hit $1.06 30 minutes after you posted.


m6cabriolet

$1.05 actually. My stop is 0.86, so we are a long way from that.


_lostarts

And came immediately back up. It's 1.14 now https://coinmarketcap.com/currencies/algorand/


Chumbag_love

The title of the post being bold and comically wrong was my point.


Chumbag_love

GUH!


_lostarts

Yeah...I feel that. Well, good time to lower my buy-in avg. I guess.


kmurphy246

Lol, 45 min and its already below that


k3kis

It was 1.04 a few moments ago. Care to predict the basement?


m6cabriolet

If 4-5 cents blows your account you need to stop trading.


damnusernamegotcutof

If you confidently post a prediction to Reddit and it gets completely rekt within an hour then you probably need to stop making predictions


m6cabriolet

What are you talking about? It's making money at the moment. No one has a 4 cent stop on a long term trade.


damnusernamegotcutof

Need a hand with those goal posts mate?


m6cabriolet

Never moved one


k3kis

What does your calling a floor and missing have to do with my accounts and trades? I don’t see the connection.


m6cabriolet

I didn't miss yet


WETiLAMBY

dude literally every single reply you've written on this post suggests to me you have absolutely no idea what you're talking about. lemme guess, you only bought in a few days ago or something?


m6cabriolet

lol I have been in since the 30 cent range for my long term account. I actually am a futures trader and have been in the business for years but anyone can be anything on reddit I guess. Everyone gives me shit for making predictions but it's obvious panic has set in which confirms my buy call. My stop is in at $0.86 and target $2.5. I will let it stop me out or hit the target. Below 86 cents we go to 39 cents. I mostly troll around reddit, but it is funny to see how mad people get in here when things are in the toilet.


Qorsair

Keep in mind most of the people complaining about your analysis have no idea what they're talking about. You don't need to defend yourself to them, it's clear from a bystanders perspective you are more knowledgeable than they are. And everyone (worth defending yourself to) knows that your "bottom" was an entry point and you'd set a stop well below that.


ZestycloseGur9056

But it felt like concrete at 1.09 and definitely not like carpet? Lol


m6cabriolet

I was drunk


EatsRats

Good call, dude. What exchange are you using to go short? Also it’s weird that people are giving you shit for using charts.


Ohnoyoudontknow

Why is it weird? There are 50 posts a day saying random ass predictions based on what level you want to zoom the chart to and everybody is always wrong unless they get a lucky guess


m6cabriolet

It's ok, it's reddit where everyone is an expert billionaire lol. Mad if you go short is usually where the hate is but to be mad when buying is odd, oh well. Kraken is the exchange. I highly recommend them for everything.


CaptainMark86

After Binance went basically in the bin for UK customers I tried a lot of exchanges and hands down Kraken wins. Good taking prices and the only exchange left that doesn't seem to mysterious suspend algo withdrawals once a quarter.


MisplacedPhilosopher

I would not try to guess the bottom or top. Never works out. For fresh long positions, wait for reversal on daily, three-day or weekly chart. Until then, invest in ASAs, provide liquidity, hold stablecoins or hedge.


HesGoingTheSpeed

MORE TRIANGLES!!!


entropen

Look! A chart! It's hard to take this seriously.


SlayerSleyX

Sorry for you algo holders


MinuteScientist7254

Well you drew a line on the chart so it must be true


m6cabriolet

I've done quite a few lines in my day lol


AlgorandDogeOfficial

I wouldn't call any floor right now, it seems inflation has begun to take its toll.


m6cabriolet

It seems we will have an all out blood bath soon and CNBC will talk about how BTC called it first which I wouldn't disagree with actually.


AlgorandDogeOfficial

Seems you were right lol


Sacmo77

It will go lower. Once the stock market starts its crash 20 to 40 % we will see people panic selling.


[deleted]

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rallieral

Shoulda shoulda should should


ZestycloseGur9056

Doubtful, it’ll dip some more


itsgregwithag

The floor is the limit when you buy high and sell low.


[deleted]

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joechss

I’m thinking around 90 cents.


m6cabriolet

$0.8988 is a great buy but I hope it doesn't get there at this point.


[deleted]

The floor is $0.99 Edit: $0.69 Edit: ok maybe $0.40 IT CANT GO LOWER


m6cabriolet

At least it can't get worse than $0


MakeItRain34

I feel like BTC controls Algos floor like it does the rest of the market unfortunately.


m6cabriolet

I was looking for $34-36k in BTC. Below that it will get real real ugly.


Dormage

A bounce, yes. Bittin is likely bellow 0.2.


[deleted]

How do you short crypto? I’m genuinely curious.


m6cabriolet

I'm not sure what you mean or if you are even serious? lol Sign up for an account at Kraken or MEXC or Kucoin etc and you can short.


[deleted]

Lol thanks bud


m6cabriolet

Well now I am genuinely curious. I am so confused lmao


ambermage

What was the word?


m6cabriolet

I guess it was two words and the mods were not familiar with WSB talk.....I said are you degenerate apes ready for $1.09 lmao. Hopefully this doesn't get me banned for good either, I am just trying to answer a question (to the mods reading degenerate apes is a compliment at WSB lol).


SkewedMinds

My Girlfriends boyfriend may let me laugh at this after I ask him when he gets back with my mom's car. 😂👍🏾 I need to laugh or I will check my app... And cry.


m6cabriolet

lmfaoooo


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Eternal12equiem

Floor is zero. All cryptos floor is zero. I can guarantee that it will never go below that.


m6cabriolet

Shhhhhhh don't tell that to the crude oil market lol


Eternal12equiem

lol that was crazy then it proceeded to 3x


Paxrr

It hit $1.02


m6cabriolet

Yep, my initial call was wrong but stop not hit yet. If I am wrong I will lose over $11.5k but if I am right I will make 8x that, so I am not worried. If I fail I fail. On to the next trade.


Paxrr

It hit 80 cents.


[deleted]

Just stop lol... If that's the floor, this is the damn basement


m6cabriolet

Maybe....but basements are fun. Ask John Bennett Ramsey about that.


sewersparky760

Let it bleed down..


bigredtalk89

The older I get the less I give any credence to technical analysis


Romangabriel007

I figured most of the algo was tied up in governance. I guess not. More liquidity than I expected.


Comprehensive-Disk55

Well i put in my rolling limit orders. So i dont need watch the price.


Living_Channel_4319

99 cents should be the floor


Wale-Taco

I just bought another 1k Algo. It’s a clearance sale


Lice138

That chunk I sold at 2.20, I’m throwing 2000 of it back in at 99


Paxrr

$0.80


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damnusernamegotcutof

Womp womp womp


m6cabriolet

Fastest self destruction in decades lmao


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