OGN Ascending Triangle
Updated
OGN had a momentary breakdown through 50 day MA, but quickly regained composure and continued riding it tightly upward. With a strike on the MACD and a bullish divergence in the RSI, I would be surprised if we don't see a movement towards the upper bound of the ascending triangle. OGN has a small market cap and there is an influx of cash to the space looking for big returns; with the big AWS news already underway, I see positive tailwinds supporting the technicals. Look for a potential breakout in 1-2 weeks
Note
Just had a break of the upper bound and a retest on the hourly. If the 4 hour holds, I think we'll start rippingTrade active
The 4 hour didn't hold, and everyone in crypto just felt that $1.5 billion bitcoin liquidation. Could regain the trending support, but if not, look for a new trend with a lighter grade to push the upper bound...at the moment it looks like we're creating sideways consolidation…may take a bit longer to break that resistance now though. Keep an eye on this one
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