OCEAN/USDT { OCEAN PROTOCOL } - BULLISH SETUP

ANALYSIS 🔎
- OCEAN/USDT bounced off the all-time low support, breaking out above the descending trendline resistance.
- Price hit a swing high and retraced.
- Price is currently testing the key fibonacci retracement zone (0.618 - 0.7 - 0.786).
- The pullback retracement was resisted by the descending trendline resistance.
- Price brokeout above the descending trendline resistance.
- Price is currently retesting the pullback's descending trendline resistance and the key fibonacci retracement zone (0.618 - 0.7 - 0.786).
- Price action is showing a potential formation of the inverse head and shoulder's bullish pattern .
- There's an uptrend continuation potential.

BUY ENTRY ⬆️
- Aggressive entry (more profitable): the key fibonacci retracement zone (0.618 - 0.7 - 0.786).
- Conservative entry (higher success rate): breakout above the inverse head and shoulders neckline resistance (@.

TARGETS 🎯
- Horizontal resistance level (@1.0150).
- Horizontal resistance level (@1.1400).
- Fibonacci extension levels 1.0 (@1.4100)

SETUP INVALIDATION ❌
- Initial invalidation: breakdown below the 0.786 fibonacci retracement level.
- Final invalidation: beakdown below the horizontal support level (@0.5865).