This currency is one of the lovely currencies in the cryptocurrency market because of its wild movement and rising !
As a result, I considered that it's like an inverse head and shoulders pattern in order to if don't break the red line trend we can buy to get a short term 40% profit! don't miss this opportunity and good luck 🤞 ~__^
- 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...
- OGNUSDT printed a falling wedge pattern.
- A falling wedge pattern is a bullish reversal pattern.
- Price brokeout above the falling wedge's resistance.
- The market has been consolidating in a rectangular pattern since the breakout.
- This rectangular consolidation pattern is known as the accumulation phase (0 - 0.786 fibonacci retracement level).
The chart shows a clear buying opportunity for OGN/USDT, a strong recent weekly close accompanied by heavy volume indicates a push to the 0.50 resistance is likely over the coming days/weeks. The 1.618 fib at 0.7480 is the first take profit for the long term.