bybimasakti

ALGOUSDT | Corrective Wave Started | Short

Short
BINANCE:ALGOUSDT   Algorand / TetherUS
Reason:
1. Break the support Channel
2. Break the support Wall
3. Break the EMA support in 30M Time Frame
4. RSI Divergence
5. I think wave 5 is over

For the stop loss level consider the trendline and the EMA as a new resistance
The corrective path just a illustration about the ABC corrective wave, it can be flat or zigzag or another ABC

Disclaimer ON
this chart is not a signal you should follow, I just want to share what I think, if I made a mistake please let me know in the comments section, Thanks.

Break the EMA support in 30M Time Frame
Trade active: you can entry short when candle retest!
Trade active:
another way using chart pattern, how about this guys?? look the relationship with the fibonaci, 76.4%, for me its still make sense LOL