$ALLO The advantage still favors sellers 📉
The structure on the hourly timeframe is weak, and the daily timeframe aligns with it. Also, $BTC is currently not giving any reason to rush into opening buy trades.
The nearest downside target is 0.26697.
After that 0.26388, and if sellers press hard, the next level is 0.25543.
But the best sell trade for me won’t be from the current levels.
I want to see a move to 0.27637–0.27814 and a false breakout at 0.27814.
If the price then returns below the level and breaks the structure on a lower timeframe, it will become interesting.
A close above 0.27814 on the 1H timeframe invalidates the bearish scenario.
#ALLO #Altcoins #Crypto
The structure on the hourly timeframe is weak, and the daily timeframe aligns with it. Also, $BTC is currently not giving any reason to rush into opening buy trades.
The nearest downside target is 0.26697.
After that 0.26388, and if sellers press hard, the next level is 0.25543.
But the best sell trade for me won’t be from the current levels.
I want to see a move to 0.27637–0.27814 and a false breakout at 0.27814.
If the price then returns below the level and breaks the structure on a lower timeframe, it will become interesting.
A close above 0.27814 on the 1H timeframe invalidates the bearish scenario.
#ALLO #Altcoins #Crypto