$ALGO

$ALGO
Every time I share a short-term perspective, this time I want to share ALGO's long-term view with everyone.
Switching to the 1-week level, ALGO is forming a double bottom pattern, which means it is creating a W-shaped structure. Once this pattern emerges, it indicates that the long-term bearish structure has ended and is transitioning into a potential bullish market. This structure most commonly occurs during the process of transitioning from a bear market to a bull market.

Currently, ALGO has broken through the Neckline resistance and has retested it. I believe it doesn't matter if the retest shows a false breakdown, as long as it closes near the Neckline or the body closes above the line. Based on the structural pattern, at the very least, I am looking at 0.85U per unit, not including many favorable factors. I hope that in the future, it can break through the historical high, as the bullish pattern is just about to begin.