• The medium-term outlook is in a bullish trend while the short term is in consolidation.
• Patience is required while trading the consolidation.

OKB/BTC Medium-term Trend: Bullish

Supply zones: $0.0000012, $0.0000014, $0.0000016

Demand zones: $0.0000030, $0.0000020, $0.0000010

The cryptocurrency is in a bullish trend in the medium-term outlook. The journey up north began at the opening of yesterday session. The large 4-hour bullish engulfing candle at $0.0000044 pushed the cryptocurrency initially up at $0.0000093 and later to $0.0000097 in the supply area before the end of the session.

The bullish momentum was sustained as the market opens today. Price rose to $0.0000115 in the supply area and closed as a bearish spinning top an indication of exhaustion and bear control of the market.

OKBBTC dropped to $0.0000074 in the demand area which is at the 50.0 fib area a trend reversal zone. It implies that a minor push to the 61.8 may occur due to the signal of the stochastic oscillator that points down at 52% before upward price continuation by the bulls in the medium-term.

OKB/BTC Short-term Trend: Ranging

The coin is in a range-bound market in the short-term. Price returned to the range after testing $0.0000011 in the supply area as the market open today. The cryptocurrency dropped to $0.0000095 in the demand area as it journey toward the lower demand area of the range.

Price is below the 10-EMA and the stochastic oscillator points down at 19% in the oversold region and indication of downward momentum within the range in the short-term.

The cryptocurrency is in consolidation and trading between $0.0000095 in the upper supply area and at $0.0000064 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.