Switching to the 1-week level, ALGO is forming a double bottom pattern, which means it is creating a W-shaped structure. When this pattern emerges, it indicates that the long-term bearish structure has ended and is transitioning into a potential bullish market. Such structures most commonly occur during the transition from the end of a bear market to the start of a bull market.

Currently, ALGO has broken through the Neckline resistance and is retracing. I believe that a retracement with a false breakout is acceptable, as long as it can close near the Neckline, or if the body can close above the line. Based on the pattern structure, the most basic target I see is 0.85 U per unit, not including many favorable factors. I hope that in the future, it can break through the historical high, and the bullish pattern is just about to begin. #ALGO—24小时交易策略 #ALGO/USDT