Alikze »» ALGO | Scenario 3 or C bullish - 1W

19 thg 11

🔍 Technical analysis: Scenario of the first cycle bullish wave 3 or C - 1W

ALGOUSDT In the daily time frame, the ascending channel is moving.

- In the analysis presented in the previous post, after reaching the dynamic trigger, it faced selling pressure and, after a correction of 0.23 Fibo of the previous wave, it was able to continue the upward movement to the supply area.

- Considering the previous movement structure, which had an upward cycle to the 33 cent range, after which it made a three-wave downward correction cycle.

💎After that, by forming a Double Bottom, it was able to touch the middle of the channel and the neckline by creating demand.

💎Considering the momentum, this movement cycle can continue to the ceiling area of ​​the ascending channel and the supply area, and then with a temporary correction in the middle of the channel, it can continue the upward path to the second supply area.

⚠️In addition, if the price enters the Invalidation LVL range during this upward phase, the bullish scenario is invalidated and must be re-examined and updated.⚠️
»»»«««»»»«««»»»«««
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support.
Best Regards,❤️
Alikze.
»»»«««»»»«««»»»«««