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. 

 

Overview: 

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. 

 

Update: 

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!



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