ALLO is getting crushed right now, and that sweep of the 0.09030 level was the final nail in the coffin - we're seeing a clear breakdown of the Order Block. Technically, the high-time frame is bearish, with the RSI plummeting to 23, indicating severe oversold conditions. Volume is also lackluster, sitting at 0.7x, which suggests a lack of conviction from bulls.
On the charts, we're seeing a perfect OB+FVG Sandwich zone, which is a classic smart money trap. The zone is holding nicely, and I'm expecting a sharp move downwards. The SMC Score is at 5.1/10, which is relatively low, indicating a high probability of a bearish move.
Here are the trade levels:
* Entry: 0.09030
* TP1: 0.08601 (RR 3.3x)
* TP2: 0.07959 (RR 8.4x)
* SL: 0.09158
I'm shorting $ALLOUSDT with a 1:2 risk/reward ratio, looking for a quick move down to TP1. If you're following along, make sure to keep a close eye on the Order Block and be prepared for a potential spike in volatility.
Stay sharp, and let's ride this wave down! #BinanceSquare #ALLO #CryptoSignals #Futures #SmartMoney