ONT/BTCKeep it simple!
Looking at ONT on the weekly, we can see a level of support was held at the 640 Sat range (green box). This was the buy level I told many about previously. For those that took this trade, you have now hit your first and second profit targets (orange box).
What I would like to see now from ONT is a re-test of the 640 to 800 Sat's range, forming a higher low. and signifying a level of support to be the "bottom". If these re-tests breaks below the 640 range then ONT has a much lower way to go.
So far the 966 Sats range is holding, but a at this level we must also see a higher low formation.
Short term I will be bearish as I want to see this re-test in the green box.
Btcont
ONTBTC - Divergence, expect to reach the fast EMA short termONTBTC
A good Bullish Divergence on MACD-H, also on EFI
Support seems to have formed on the 1H chart, reversal is expected
False breakout, price moving possibly moving up now.
Entry 0.00005230
Target 0.00005319
Stop Loss 0.00005180
R/R ratio: 1:1.8
Note:
We will check out the strength during the trade to see if we stick around to see if it will reacht the slow EMA, to have way more profit. But in this bearish market, I tend to get out with maybe less profit, as there is not much strength currently, and waiting too long you'll see yourself to get out break even