OCEAN USDTThe Ocean price Is moving in a descending broadening wedge pattern after a successful break out from the wedge we will see a good price movement. Now the price is near the lower line of the wedge if it tests the lower line we could take entry to the upper line.
Oceanusdtanalysis
OCEAN/USDT Breaking out Resistance, Bullish Momentum ???💎 OCEAN has undeniably captured significant attention in the market. Breaking out from the strong resistance area, it is currently undergoing a valid retesting phase at the support level, which was previously a resistance.
💎 There is a probability of continued upward movement towards the major supply level area. However, if OCEAN retraces to the support area and loses this support, it could signify a false breakout. In such a scenario, there's potential for a return to the demand area at $0.357.
💎 The demand area is crucial, necessitating a bounce to reclaim it. Failure to do so may result in a loss of demand, prompting OCEAN to revert to the strong demand area.
OCEAN target 0.712h time frame
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OCEAN created a support zone(0.25~0.29), which is not only the structural support, but also the 0.382 Fib Projection. OCEAN just broke the downtrend line; although this downtrend line is not that standard, but enough to show the resistance performance. So we can set a trading plan with good risk to reward ratio here.
TP: 0.63~0.7
SL: 0.232
OCEANUSDTBINANCE:OCEANUSDT Short idea
⚠️Note:
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If you are interested in entering these signals, please provide a stop loss and a logical market-based target.
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#OCEAN/USDT Trade setup
OCEAN breakout this symmetrical triangle pattern and currently retesting it according to this pattern we can expect some good bounce if every things goes good.
(Basic knowledge)
A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. Trend lines that are converging at unequal slopes are referred to as a rising wedge, falling wedge, ascending triangle, or descending triangle.
KEY TAKEAWAYS
Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes.
The breakout or breakdown targets for a symmetrical triangle is equal to the distance between the initial high and low applied to the breakout or breakdown point.
Many traders use symmetrical triangles in conjunction with other forms of technical analysis that act as a confirmation.
Entry:- CMP
Target:- 50% to 80%
SL:- $0.365
This piece is not intended to be financial advice. Before making an investing choice, always do your own research and speak with a qualified advisor.
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OCEANUSDT on daily support, likely to head to weekly resistanceThe price is currently at daily support. This makes a long favorable here towards the weekly resistance. The price might dip further into daily support zone, but a short in any way is not favorable from probability point of view.
OCEANUSDT Elliott Waves AnalysisHello friends.
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Everything on the chart.
Entry: market and higher
Target: 0.29 - 0.27 - 0.25
after first target reached move ur stop in breakeven
Stop: (depending of ur risk). ALWAYS follow ur RM .
risk is justified
Good luck everyone!
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