ALGO bullish idea

Looking at the ALGO chart we can see that price has retraced a significant amount of the last pump. Sitting just above a major fib level (786) both on high time frame and low timeframe.

Showing possible long ideas if price continues to build bullish price action.
Note, need to align with BTC starting a bullish uptrend before having any conviction in any Alts doing likewise.

Target for these ideas will be the POC of the overall structure. Profits should be taken in layers (maybe 2-3 before the POC) to mitigate risk of BTC continuing downtrend.

Note, manage your risk. Possible for price to drop down to the next support level.