Origin Protocol 600% Bullish Wave MappedOWhen there is a consolidation period there is always uncertainty as to where the breakout will lead. At each juncture point, prices can go either up or down.
Here on this chart the consolidation period is marked with blue lines. Notice that the initial move is a downtrend. This downtrend leads to a consolidation period. In continuation of the downtrend, a breakdown happens. Notice that this breakdown produced a "small wave," when we compare it to the bigger wave to the left.
This smaller wave tells us that the downtrend is likely over, losing momentum, coming to its end.
Seeing how the other altcoins are performing, the rounded bottom and candlesticks (4 weeks moving higher), we can deduct that a reversal is already in place.
This is really early.
➖ Some traders are "reactive traders," they react to what happens after the event.
➖ Others are "predictive traders," they prepare in advance by predicting future events.
We are predictive traders, or I should say, predictive technical analysts. We read the chart signals to predict what will happen next. Normally, we produce a very high rate of success.
Look at the chart, OGNBTC is going up next.
This is prediction, will it come to pass?
Market conditions can always change.
Namaste.
