ONT – Bullish pennants all over the place – Pending break-out
Updated
Ontology has been really going for it, jumping from one bullish pennant to the next one. Today we are experiencing pennant number 4, accompanied by a golden cross in the MACD (A) and upward momentum in the RSI (B), so this one is likely to precede a strong next bull run.
Talking targets, the previous 61,8% Fibonacci level is first up at 6650 sat. After that, I believe we can hit 8141 sat. That’s a nice gain.
I’m long in this one for the longer term, but if you just want to make a nice trade, this is definitely a good opportunity.
There is also a nice divergence showing that there is indeed further accumulation, a good example showing this is this author's (mertmaximilian) post:
E.g. cumulative volume index divergence on the daily:
This one speaks for itself. Good luck.
PS: merely my opinion, DYOR
PS2: always happy when you give a thumbs up :)
Talking targets, the previous 61,8% Fibonacci level is first up at 6650 sat. After that, I believe we can hit 8141 sat. That’s a nice gain.
I’m long in this one for the longer term, but if you just want to make a nice trade, this is definitely a good opportunity.
There is also a nice divergence showing that there is indeed further accumulation, a good example showing this is this author's (mertmaximilian) post:
E.g. cumulative volume index divergence on the daily:
This one speaks for itself. Good luck.
PS: merely my opinion, DYOR
PS2: always happy when you give a thumbs up :)
Note
Similar graph versus ETH, so you can chose your pairing.Note
choose*Note
Update: I was just a little early and a bit optimistic making the call, hereby an update. I'm still bullish on this one, the golden cross and the RSI made a slight detour. But as you can see, we will have an even bigger golden cross in the MACD soon, and the RSI is now really in the oversold area and curving again upwards.The story, albeit a bit delayed, remains the same - buy (DYOR).
tradingview.com/chart/IZQFHWQ0/
Note
Note
Et voilaNote
Looks like we are close to approaching the limits of current price - we had a high against the first yellow/orange line, and then a high against the upper one. Breaking those is not very sustainable for a prolonged period. But therefore not bad to place a sell order there to get a nice profit ;) This was a nice run up, and I still believe ONT has more potential than this, but there should come a correction wave sooner than later, after such an amazing bull run!
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