Ocean Protocol (Bittrex: OCEANUSD) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, OCEAN began a red wave one advance on March 16. The red wave one finished on May 20, and the red wave two correction ended on June 28. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on August 18, and the red wave four (blue sub-waves a-b-c) correction ended on October 7. If this wave count is correct, OCEAN should be heading next towards the August 18 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Zooming out in the weekly chart, I believe OCEAN is currently in the red wave three (blue sub-wave v). The red wave one began in August 2019, and the red wave two correction ended on March 16 this year.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
The Ocean token is used as a unit of exchange for buying and selling data and AI services within Ocean's Pacific main net. Coin Bureau reviewed the protocol last month.
(Sources: https://oceanprotocol.com/)
How Will Ocean Protocol Trade?
Ocean Protocol (Bittrex: OCEANUSD) daily chart by Tradingview.
(Chart courtesy of Tradingview.com (log scale))
Prizes
I will be giving upvotes to the correct answers with minimum reputation of 25.
Rules
This poll will expire in one week. Only one vote per person.
Which one will happen first?
Please select one of the three choices and comment below.
OCEAN will takeout the August 18 peak
OCEAN will drop below the July 27 low
OCEAN will stay in a trading range between the July 27 low and the August 18 peak until November 25
