OGNUSDT (ORIGIN PROTOCOL) - UPTREND CONTINUATION
ANALYSIS 🔎
- OGNUSDT brokeout above the double bottom neckline resistance and hit a swing high.
- Price retraced for a retest of the flip horizontal support (neckline resistance) and the 0.618 fibonacci retracement level.
- There's a relatively high concentration of buyers (buying pressure) at the retest zone.
- The retracement is bounded in a descending channel (bullish flag).
- There's an uptrend continuation possibility.
BUY ENTRY ⬆️
- Breakout above the descending channel's (bullish flag) resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level.
- OGNUSDT brokeout above the double bottom neckline resistance and hit a swing high.
- Price retraced for a retest of the flip horizontal support (neckline resistance) and the 0.618 fibonacci retracement level.
- There's a relatively high concentration of buyers (buying pressure) at the retest zone.
- The retracement is bounded in a descending channel (bullish flag).
- There's an uptrend continuation possibility.
BUY ENTRY ⬆️
- Breakout above the descending channel's (bullish flag) resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level.