OGNBTC Critical Bounce off Fibonacci and Trendline
Today's analysis centers around a critical question: Is this the bottom for OGNBTC we've been eagerly awaiting?
The charts tell a compelling tale as OGNBTC is currently stress-testing the 127.2% Fibonacci support, showcasing a clear bounce off this level.
Yesterday's resilience demonstrated a bounce off the simple uptrend trendline, with OGNBTC managing to avoid a daily close below the trendline. However, today brings a twist as the price briefly dipped below, only to find stability thanks to the steadfast support of the 127.2% Fibonacci level.
Should this support continue to command respect, a high-probability scenario unfolds—the potential bottoming out of OGNBTC. Envisage a future where we anticipate a nearly 50% surge in OGN price over BTC, marking a significant turnaround in the crypto narrative.
The charts tell a compelling tale as OGNBTC is currently stress-testing the 127.2% Fibonacci support, showcasing a clear bounce off this level.
Yesterday's resilience demonstrated a bounce off the simple uptrend trendline, with OGNBTC managing to avoid a daily close below the trendline. However, today brings a twist as the price briefly dipped below, only to find stability thanks to the steadfast support of the 127.2% Fibonacci level.
Should this support continue to command respect, a high-probability scenario unfolds—the potential bottoming out of OGNBTC. Envisage a future where we anticipate a nearly 50% surge in OGN price over BTC, marking a significant turnaround in the crypto narrative.
Comment:
OGNBTC has moved down yet again. But this time it is facing 141.4% Fibonacci support, where the price currently sits. I think the chances that it will hold are pretty strong. Yet, we need to wait and see.
Trade active:
The price went lower, but this time I got to share with you this chart. You can see a clean bounce off 141.4% Fibs on daily timeframe. There were attempts to break below, yet OGNBTC is holding strong for the past few days. Looks good...
