Technical Analysis - Ocean
OCEAN/BTC - 02/27/2020
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As shown above, we will be updating the technical analysis of OCEAN/BTC from the 30 of January.
As mentioned in the previous update, we have successfully flipped a last key area of resistance into support. This S/R flip was followed by an anticipated impulse move to the upside. This impulse move broke the local ATH, from where it has and still is continuing the uptrend.
As OCEAN is continuously surging for new highs, we can take a look at technical signs to see if it is about to reverse, retrace, stop, or continue. Starting with the MKAST Algorithm, which is still in a buy-condition, we get the first and main confirmation of the bullish bias. Followed by the TJ-Index, which is already finding itself at pretty high levels, is suggesting only not to enter here anymore and look for lower entries. Yet, it is not exempting a continuation of the trend. Talking of lower levels, we would want to see something similar as we saw before. A Support and resistance flip. The resistance which we broke was the previous ATH we mentioned; re-testing that level would be healthy and speak in massive favor of OCEAN/BTC.
This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!