OCEAN has been trading within this shallow ascending parallel channel since Oct 2021. With BTC's recent drop, it has begun to trade below its 200 day EMA but there is an opportunity to buy for a short-term ~15% gain or long-term ~45% gain.
We can see that OCEAN could bounce from the bottom of the channel but it is worth waiting for an initial green candle (or signs that BTC has finished its correction) from the ascending support before opening a trade as currently, we are in free fall. Of course, the idea is cancelled if there is a candle close below the ascending line.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments, questions and thoughts below!
We can see that OCEAN could bounce from the bottom of the channel but it is worth waiting for an initial green candle (or signs that BTC has finished its correction) from the ascending support before opening a trade as currently, we are in free fall. Of course, the idea is cancelled if there is a candle close below the ascending line.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments, questions and thoughts below!
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