In a daily and 4h chart we can clearly see that ocean has failed to overcome the long term downtrend with a major bullish wave and as it is showing now it looks like it is about to lose one of the most important Support areas which can be a sign of a bearish market until it hits a good trend changing demand area which could be anywhere from 0.2 to 0.3 (fibbonacci levels) .
Ocean Protocol (OCEAN) Buy Zone
Mid-Term : Bullish
Risk : Medium
Short term scenario has become neutral with our latest $BTC and $ETH move down, Ocean Protocol has reached mid-term support zone which is possible to reversal.
$OCEAN/USDT LONG SETUP
Leverage : x3 - x5
Entry Price : 0.45 - 0.43
TP 1 : 0.46
TP 2 :...
Back down to support and at the .886 retracement off the local highs with hidden bullish divergence on the RSI. This bullish Shark is also the confirmation low of the larger structure.
Stop losses are just set 3:1 RR, they can be tightened to play the momentum, because ideally you really dont want to see another low, even though the shark could do the 1.13...
BTC direction is uncertain, so use only half of usual volume .
- Formation is clearly visible
- 4th touch
- Volume at top
- False breakout
- Under VWAP
- Squeezing to support
- Lenth of formation is >400 bars
- Will enter when the base on 5m tf will form and the strip will get faster.
What do you think of this idea? What is your opinion? Share it in the...
Entry Price : 0.5408 - 0.55
TP1 : 0.5885 $
TP2 : 0.615 $
TP3 : 0.638 $
Stop Loss : 0.514 $
As it turns out, A flag pattern is finishing in 1 hour time frame. It is a good opportunity for scalper by entering in sweet zone .
#OCEAN/USDT TA Update:-
$OCEAN currently trading at $0.6
And bounced back from Support level.
This support area could be best entry zone.
Entry 1:- $0.55-$0.6
Entry 2:- $0.4
Stop Loss:- $3.77
Resistance = Targets
If break $1.64 then $OCEAN will be Sky Rocket.
Risk reward ratio = 3
possible lose of about 14% of your position, that's why you shouldn't enter with more than 20% of your portfolio so you don't risk more than 3% of the portfolio
if you are not welling to risk 3% then lower your position size to your preferences
Analysis is based on volume related tools mainly
Good luck to both of us :)
OCEANUSDT : as you can see guys in chart OCEAN in the more critical zone the price above the blue support which was the the first step to ocean make (1.2864 usdt) well if this day candle close under this support OCEANUSDT will drop to 0.3765 usdt which is the most predicable because all the crypto coin are in falling trend well we really need to focus on this...