The market is telling us that we are still very much bearish at the moment, BTC currently looks to be trending down with a 90% probability of hitting a major support level at around $5775 and potentially lower to $4900ish, within the next 10 days. If this scenario plays out expect alts to face a major dump. Ontology seems to hold quiet well during markets downtrend, but don't be a fool to think ONT will not see a new low. I understand, this is not the most popular option for many, but October and November still very much bearish in the crypto world. We will see bounces between now and the new yearly low, but the end target is coming and coming fast.
I expect to see this scenario taking place and set my buy targets as followed:
Buy: $1.50 - This will come very soon
Buy: $1.21 If the $5900 BTC supports break expect T2 to be filled
Buy: $0.91 If $5700 breaks We are definitely picking up more ONT at T3
I hope one this scenario plays out as this not financial advise. Like, comment, share your thoughts and opinions.
I expect to see this scenario taking place and set my buy targets as followed:
Buy: $1.50 - This will come very soon
Buy: $1.21 If the $5900 BTC supports break expect T2 to be filled
Buy: $0.91 If $5700 breaks We are definitely picking up more ONT at T3
I hope one this scenario plays out as this not financial advise. Like, comment, share your thoughts and opinions.
Note
This scenario still in play as BTC failed to break above $6750 with a new high low of $6600. This price movement was a clear sign of large whales trying to manipulate prices to avoid liquidations of long positions. Expect a huge selloff in the near term, timing is not something that can be pinpoint under current conditions (1- 10 days more or less).Plan to have two more weeks of choppy waters before the bullish sentiment returns to the space. My targets still stand, I will update the idea if anything changes.
Happy trading everyone.
Note
I failed to mentioned that BTC has the potential to breakout to $6900 area before we see a sharp fall down to the yearly support of $5775 ish. I am leaning towards a breakdown at the moment 70/30, but only the market will determine. Happy trading.
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Hello fellas, I thought it would be a good idea to update the direction of the next move, as I mentioned in my previous update post anything can happen in this market under the current manipulation conditions. Nevertheless, I like for you to have a clear direction of what has changed as BTC gears up towards an upswing move to test the $7300 area in the near hours/couple of days. We have reached the end of the crossroads triangle, which indicates a potential bullish momentum as BTC seems to feeling quite comfortable in the current zone and have good volume support. With been said, ONT can very easily decouple from the BTC/ONT movement towards $2.88 (4320sats), and if it decides to run we will see prices pushing all the way to $3.80 (5720 sats). Once we hit those two targets I look to see a sharp drop which will be a correction based on BTC sell off to the $6,300 range with possible continuation to my main target of $5775. Expect ONT to retest the main early support in V shape correction when this scenario take place.
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Here it is fellas! Target I met, now headed to target II. Just wait and keep on accumulating! Happy trading!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.