Ocean Protocol (OCEAN)

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.

Kommentera:

OCEAN reached the channel's upper line. Let's see if it could break it.

Kommentera:

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.

Kommentera:

OCEAN also broke the scissor/butterfly pattern upward and reached the ATH resistance area. Let's see how OCEAN reacts to this area.

Kommentera:

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.