Ontology, ONT/BTC - The Start of Another Impulse Wave?
Updated
Ontology, ONT/BTC has been an absolute beast since it was launched on the exchanges, especially since it got on Binance.
Easily one of the best performing coins of the last weeks/months and little to no signs of stopping yet. If you took the trade we've previously covered on Ontology about 2 weeks ago, you could have made almost 2x in less than 2 weeks!
So let's take another look at this interesting and very profitable coin shall we, but now from a more Elliot Wave theory perspective.
Analyses
- After the ATH, ONT/BTC retraced quite a bit, almost at the .5 fib retracement level around 8500 sats. This retracement looks to have finished the corrective wave pattern A-C.
- From there it managed to bounce back which will likely be the start of another impulse wave 1 - 5. And as I pointed out, it looks like we already have the 1 and 2 wave set, and are at the beginning of a wave 3.
- Not only that but Ontology, ONT/BTC is also trying to break out of a (big) bull flag pattern, indicated with the purple (trend)lines.
So with this in mind, if you look to swing trade Ontology, ONT/BTC then this is how you can do it:
Trade Instructions
Buy Area
0.0009500 - 0.0010500
Profit Target
1. 0.0011697
2. 0.0012647
3. 0.0013598
4. 0.0014952
Note: Don't forget to take some profits along the way. This will give you peace of mind and patient so you can ride it out longer and also reinvest/trade your profits quicker and make even more.
Stop Loss
0.0008990
Remember, you can use larger stop or no stop at all if you believe in this coin for the mid-long term. But invest accordingly and use an amount you're willing or can afford to lose.
Leave a comment if you have any questions or concerns.
Like the post, if you liked it and share it if you loved it. This is for good karma.
And until next time, good luck with your trading!
Easily one of the best performing coins of the last weeks/months and little to no signs of stopping yet. If you took the trade we've previously covered on Ontology about 2 weeks ago, you could have made almost 2x in less than 2 weeks!
So let's take another look at this interesting and very profitable coin shall we, but now from a more Elliot Wave theory perspective.
Analyses
- After the ATH, ONT/BTC retraced quite a bit, almost at the .5 fib retracement level around 8500 sats. This retracement looks to have finished the corrective wave pattern A-C.
- From there it managed to bounce back which will likely be the start of another impulse wave 1 - 5. And as I pointed out, it looks like we already have the 1 and 2 wave set, and are at the beginning of a wave 3.
- Not only that but Ontology, ONT/BTC is also trying to break out of a (big) bull flag pattern, indicated with the purple (trend)lines.
So with this in mind, if you look to swing trade Ontology, ONT/BTC then this is how you can do it:
Trade Instructions
Buy Area
0.0009500 - 0.0010500
Profit Target
1. 0.0011697
2. 0.0012647
3. 0.0013598
4. 0.0014952
Note: Don't forget to take some profits along the way. This will give you peace of mind and patient so you can ride it out longer and also reinvest/trade your profits quicker and make even more.
Stop Loss
0.0008990
Remember, you can use larger stop or no stop at all if you believe in this coin for the mid-long term. But invest accordingly and use an amount you're willing or can afford to lose.
Leave a comment if you have any questions or concerns.
Like the post, if you liked it and share it if you loved it. This is for good karma.
And until next time, good luck with your trading!
Trade closed: stop reached
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