ANALYSIS 🔎
- ALGOUSDT is consolidating in a pennant chart pattern.
- A pennant chart pattern is a trend continuation pattern, a bullish one in this case.
- There's a breakout potential.
BUY ENTRY ⬆️
- Aggressive entry (risky) : market price (now).
- Conservative entry : breakout above the pennant pattern's inclined resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
- Projected ascending channel resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the pennant pattern's inclined support.
- ALGOUSDT is consolidating in a pennant chart pattern.
- A pennant chart pattern is a trend continuation pattern, a bullish one in this case.
- There's a breakout potential.
BUY ENTRY ⬆️
- Aggressive entry (risky) : market price (now).
- Conservative entry : breakout above the pennant pattern's inclined resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
- Projected ascending channel resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the pennant pattern's inclined support.