OGN: Bullish Breakout Signals Potential Upside! Watch Key Levels💎 OGN has broken out of a descending channel, accompanied by the formation of an inverse head and shoulders pattern, indicating a shift towards a bullish market structure. Additionally, there's evidence of a Change of Character (CHoCH) in the price, further supporting the bullish sentiment.
💎If OGNUSDT manages to break above the first resistance zone, which also coincides with the neckline of the inverse head and shoulders pattern, we can anticipate a bullish movement towards the next resistance levels. In the event of a pullback, if the price retraces to the bullish OB (Order Block) and demonstrates bullish candlestick patterns, it could signify a potential bounce from that level.
💎However, if the price breaks down below the demand area, it would be prudent to exercise caution and consider ignoring OGNUSDT. This decision is based on the broader bullish sentiment prevailing in the overall market, coupled with the upcoming halving event. If OGN's price declines amidst a bullish market backdrop, it may suggest underlying weaknesses, making it less attractive for trading or investment purposes.
