OGNBTC Critical Bounce off Fibonacci and Trendline
Updated
Today's analysis centers around a critical question: Is this the bottom for OGNBTC we've been eagerly awaiting?
The charts tell a compelling tale as OGNBTC is currently stress-testing the 127.2% Fibonacci support, showcasing a clear bounce off this level.
Yesterday's resilience demonstrated a bounce off the simple uptrend trendline, with OGNBTC managing to avoid a daily close below the trendline. However, today brings a twist as the price briefly dipped below, only to find stability thanks to the steadfast support of the 127.2% Fibonacci level.
Should this support continue to command respect, a high-probability scenario unfolds—the potential bottoming out of OGNBTC. Envisage a future where we anticipate a nearly 50% surge in OGN price over BTC, marking a significant turnaround in the crypto narrative.
The charts tell a compelling tale as OGNBTC is currently stress-testing the 127.2% Fibonacci support, showcasing a clear bounce off this level.
Yesterday's resilience demonstrated a bounce off the simple uptrend trendline, with OGNBTC managing to avoid a daily close below the trendline. However, today brings a twist as the price briefly dipped below, only to find stability thanks to the steadfast support of the 127.2% Fibonacci level.
Should this support continue to command respect, a high-probability scenario unfolds—the potential bottoming out of OGNBTC. Envisage a future where we anticipate a nearly 50% surge in OGN price over BTC, marking a significant turnaround in the crypto narrative.
Note
OGNBTC has moved down yet again. But this time it is facing 141.4% Fibonacci support, where the price currently sits. I think the chances that it will hold are pretty strong. Yet, we need to wait and see. Trade active
The price went lower, but this time I got to share with you this chart. You can see a clean bounce off 141.4% Fibs on daily timeframe. There were attempts to break below, yet OGNBTC is holding strong for the past few days. Looks good...
📱 Telegram: t.me/Tradexcel
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.