Crypto Contest June 17: Ocean Protocol

Ocean Protocol (Bittrex: OCEANUSDT) 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 Protocol began a wave one advance on May 10. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 26, and the red wave two (blue sub-waves a-b-c) correction ended on June 11. If this wave count is correct, Ocean Protocol should be heading next towards the May 26 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Ocean Protocol is a decentralized data exchange protocol to unlock data for AI. You can watch their intro

About the author: Markus Aarnio

I have 20 years of investing experience. I have traded stocks, commodities, cryptocurrencies, and forex markets.