There is a Bearish Deep Crab with 2.618 and 1.618 Confluence on OKEx's Native Token when looked at from the perspective of BTC's value and the target for such a setup could take OKEx down over 90% in BTC value.
OKBUSD has formed a large cup looking structure.
What I am waiting for is the handle continuation to occur.
On different timeframes a smaller symmetrical triangle is visible which supports the bullish handle theory.
The uptrend line has been touched!
This touch has already begun leading to big continuation upwards, we will likely see more as time progresses
Daily timeframe
Following weekly chart.
Found a good long opportunity ( around 25%) RSI support a long signal also.
TP 16.12
SL 10.63 - Plase wait for candle close to stop position.
The end of the bear market can be observed as price transitions through 1.618
A bull market will begin, (early stages of trend reversal)
This correlates well with where BTC and ETH are currently poised
The weekly technical chart of OKB suggests a downside trend for the future. On the daily chart, the asset is looking to jump above for a new high. OKB coin price upside trend may face a hostile region near $30. The bounceback of the asset can see a bounceback near the value of $20. OKB price is currently trading below the 50 and below 100 Daily Moving Average....
This particular pattern in this currency can be a sign that this currency is going to climb very well in the future
OKB can be 45$ again
Analysis basically on Elliott waves Principles
Looks like OKB is ready to have a sweet bounce.
Here is why i think its a good long position:
- 50 MA touch
- 61.8% Fib touch
- Bollinger bands bottom touch
- RSI oversold
- sweet falling wedge pattern
Entry: 27,93
Stop Loss: 25,79
Profit Target: 33,00
Trading the breakout of recent swing high of 33.87, waiting for breakout, macd 4h to turn bullish, TP at around 41 bucks, SL at 30.67. using atr stop loss indicator
OKB has full formed a curve for the cup pattern, retesting previous resistance as support near the 29.9-30 levels.
Now we use the fib levels to extend for a TP target at 1.618 level at 39.39
We draw the full depth of the cup pattern and extend it above to coincide with the 1.618 level
Volumes also show buyers trying to break the 33 resistance level, with at least...
Chart-Art shows possible bearish atm, it's trending down and trading below support line . NOT trading advise either.
#. Why do these coins showing same patterns, and pums & dums at the same-time? So just buy any potential coins n hold.
OKB/USD is a pair to look out for, however, in recent trends, it has been a downtrend of the price. Do you think it's coming price action will bring a surge to the market or a least a retest to go bullish?
