OCEAN bull run
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Never risk more than you can afford to lose.
1. OCEAN has already formed a divergent double top in monthly time frame, which is a strong bearish sign for its long term period.
2. in weekly time frame it made a head and shoulders which has already broken the neckline and its bearish downtrend and made a pivot on $0.3850 and rallied up.
3. on daily time frame it formed a rounding bottom which caused to flip the $0.5778 resistance level and now struggling with that level.
4. in case OCEAN can establize above the current resistance level, sine it is still below the zone, it may rally toward next weekly resistance zone to $0.80 and $1.04 which is a daily resiatance level if it can break the first level, reaching to next zone will be easy enough for OCEAN yet, it attcks from a weekly level in order to break a daily zone. though the last resistance level in the vicinity will be tough one because it is a monthly resistance level.
the last zone is achievable, only if total trend of market change into bullish with BTC's positive movement toward 48k.
The monthly (and some weekly in common) level in red
The weekly (and some daily in common) level in blue
The daily level in green.
This is personal idea and I am not a financial adviser.
Never risk more than you can afford to lose.
1. OCEAN has already formed a divergent double top in monthly time frame, which is a strong bearish sign for its long term period.
2. in weekly time frame it made a head and shoulders which has already broken the neckline and its bearish downtrend and made a pivot on $0.3850 and rallied up.
3. on daily time frame it formed a rounding bottom which caused to flip the $0.5778 resistance level and now struggling with that level.
4. in case OCEAN can establize above the current resistance level, sine it is still below the zone, it may rally toward next weekly resistance zone to $0.80 and $1.04 which is a daily resiatance level if it can break the first level, reaching to next zone will be easy enough for OCEAN yet, it attcks from a weekly level in order to break a daily zone. though the last resistance level in the vicinity will be tough one because it is a monthly resistance level.
the last zone is achievable, only if total trend of market change into bullish with BTC's positive movement toward 48k.
The monthly (and some weekly in common) level in red
The weekly (and some daily in common) level in blue
The daily level in green.
This is personal idea and I am not a financial adviser.
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