$ALGO/$BTC Out of RequestYou are showing bullish divergence on the macd, but not on the rsi. I don't recommend taking a trade in this coin at all. Sure, 4 hour macd bullish divergence could play out and you'll probably get a scrub rally out of it between the common retrace zones. But their is no reason to be buying at this price as their is no real support. In fact you only have one support left, break that, you could see much lower prices. I mean, I tried to plot a bullish butterfly but you exceeded the 88.6% retrace from b to c. So it isn't a valid harmonic anymore. The only reason why I could see you having a scrub rally from here is the fact that you are at the 25% retrace on the fib channel. But, you're in between support levels at no critical fib node. I don't recommend taking a position in this shit at all. Sorry ladies and gents. The scrub rally isn't really worth it if it even happens. Going through my Trading Strategy, this doesn't even make a quarter of the requirements for me to want to take a position in. So, I am not bearish or bullish on it. You have one variable that is bullish and that is MacD bullish divergence. Not even on the rsi and you are also at the 25% retrace on the fib channel, so you could have a scrub rally but not worth taking a position at this price. Maybe if we still have bullish divergence formed and we happen to forming a double bottom.
