Ocean Protocol (OCEAN)
Updated
Ocean Protocol chart is interesting; a strong upward impulse wave followed by a corrective wave. The correction is unfolding in a descending channel. After price bounced from channel's lower line, an upward wave started, then again OCEAN's corrective is unfolding in a minor descending channel. Let's see if OCEAN can reach the upper line of this channel, or even break it.
Comment
OCEAN reached the channel's upper line. Let's see if it could break it.
Comment
So, after OCEAN broke the channel's upper line (or the descending triangle in this chart), it went up and also broke the major channel's upper line; thus a pullback is most anticipated. It seems a scissor/butterfly pattern is forming, so price most probably react to this pattern in the future. Let's see what happens.
Comment
OCEAN also broke the scissor/butterfly pattern upward and reached the ATH resistance area. Let's see how OCEAN reacts to this area.
Comment
So, OCEAN couldn't break the ATH resistance area, made a pullback on the broken scissor/butterfly pattern. OCEAN going to try again and break this area. Let's see what happens.
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