Technical Analysis - Ocean
OCEAN/BTC - 03/22/2020
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As shown above, we will be updating the technical analysis of OCEAN/BTC from the 27th of February, 2020.
OCEAN is actually making some strong moves right now. It has touched base on the uptrend support and immediately has shown some real strength with a tremendous bullish engulfing. The following days, especially the next week is going to be very interesting and essential for OCEAN/BTC since it will show if it has real strength to it or if this bounce was just another fake-out.
As already mentioned above, OCEAN is showing some reasonable strength after touching base on the previous key-area of support. The MKAST-Algorithm is still in a sell-position, which pretty much confirms my bias of being “carefully bullish” as of right now. Should this bounce continue, get some more volume behind and show some more strength in the next 10 days, OCEAN will be one of the most bullish pairs out there. The TJ-Index is as well at 3 out of 15 points, which is quite low, and given the fact that it is slowly turning upwards, there is an excellent chance to see out bias confirmed within the next couple of days. An experienced trader would be looking for trade-in between the two white lines after MKAST has turned into a buy-condition.
This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!