Hello Fellow Traders. This is Richard, as known as theSignalyst.
OKB has been overall bullish trading inside the rising broadening wedge pattern in red.
After rejecting the upper red trendline, OKB is now in a correction phase and approaching the lower red trendline.
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Moreover, the zone 40 - 42 is a strong demand zone .
So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue demand zone and lower red trendlines . (acting as non-horizontal support)
As per my trading style:
As OKB approaches the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Create an account through the below link:
For 20% discount on trading fees
https://www.okx.com/join/THESIGNALYST
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
