Technical analysis by jod45m about Symbol ALGO: Buy recommendation (2/19/2025)

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.