OCEAN/USDT: bullish view invalidated - Turn Neutral
---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------
OCEAN/USDT: bullish view invalidated - Turn Neutral
Context
- The Global Crypto market leads by BTC and ETH reversed a new bullish trend - OCEAN for now is still underperforming ETH
- Previous bullish view invalidated
- Turn Neutral between 0,2150 and 0,1480
Previous Analysis 12/08/2022 : https://www.tradingview.com/chart/OCEANUSDT/i3gTAXo2-OCEAN-USDT-Reversed-up-above-key-support-at-0-1480/
Market configuration
- Graphical Elements :
Graphical Resistance = 0,2150 & 0,7280
Graphical Support = 0,1480
- Mathematical Indicators:
EMA ( Exp Moving averages) are now resistance = Bearish
RSI indicator (below) is now below 50% - but Moving average still at 50% = Neutral
- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (c) (B) has been already reached = 0,1480
Fibonacci resistance of the wave in progress = 0,2150
Fibonacci Bearish Target = 0,1480 / 0,0860
Fibonacci Bullish Target = 0,3410 / 0,5180 / 0,7280 (auto-similar move)
Conclusion
Neutral view (Mixed elements) : On current level the direct bullish dynamic has been invalidated - We turn Neutral between 0,1480 and 0,2150, only a break of those level would provide a clear directional conclusion
NOTE : OCEAN invalidate the direct bullish scenario and continue to underperform the ETH - We advise to do not keep OCEAN in portfolio.
OCEAN/USDT: bullish view invalidated - Turn Neutral
Context
- The Global Crypto market leads by BTC and ETH reversed a new bullish trend - OCEAN for now is still underperforming ETH
- Previous bullish view invalidated
- Turn Neutral between 0,2150 and 0,1480
Previous Analysis 12/08/2022 : https://www.tradingview.com/chart/OCEANUSDT/i3gTAXo2-OCEAN-USDT-Reversed-up-above-key-support-at-0-1480/
Market configuration
- Graphical Elements :
Graphical Resistance = 0,2150 & 0,7280
Graphical Support = 0,1480
- Mathematical Indicators:
EMA ( Exp Moving averages) are now resistance = Bearish
RSI indicator (below) is now below 50% - but Moving average still at 50% = Neutral
- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (c) (B) has been already reached = 0,1480
Fibonacci resistance of the wave in progress = 0,2150
Fibonacci Bearish Target = 0,1480 / 0,0860
Fibonacci Bullish Target = 0,3410 / 0,5180 / 0,7280 (auto-similar move)
Conclusion
Neutral view (Mixed elements) : On current level the direct bullish dynamic has been invalidated - We turn Neutral between 0,1480 and 0,2150, only a break of those level would provide a clear directional conclusion
NOTE : OCEAN invalidate the direct bullish scenario and continue to underperform the ETH - We advise to do not keep OCEAN in portfolio.
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.