$ALGO lost the 0.14 level. There are two possible scenarios next:
① It rebounds but fails to reclaim 0.14 → the level turns into resistance, with the 24-hour low of 0.1153 as the next downside target.
② It quickly recovers 0.14 → this was probably a false breakdown, and short positions could get squeezed.
I’m paying more attention to how well it holds on the first rebound.
For reference only. Trade at your own risk.
① It rebounds but fails to reclaim 0.14 → the level turns into resistance, with the 24-hour low of 0.1153 as the next downside target.
② It quickly recovers 0.14 → this was probably a false breakdown, and short positions could get squeezed.
I’m paying more attention to how well it holds on the first rebound.
For reference only. Trade at your own risk.