LONG - ONT - Trading OpportunityBroke big downtrend and had a nice volume spike this morning. Lots of Alts are booming and starting uptrend this looks like no exception.
Entry: 0.0000755
Target 1: 0.0000849
Target 2: 0.0000922
Target 3: 0.0000995
SL: 0.0000716
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ONT
$ONT $USD $ONTUSD Roller Coasting
Monthly
Starting with our higher timeframe we see ONT has been following our downtrend since being introduced into the crypto space. Our naked chart shows the last time we were at this price we bounced from $0.55 up to $2.00, will we be seeing the same movie? ONT looks like it found support once again at this level, still the beginning of the month however we are seeing blue. The trend is your friend until it bends.
Weekly (Naked)
Shifting over to the pattern timeframe we see the price has tested this level on multiple occasions (4x's) with no signs of breaking this support level. Stochastic RSI showing momentum in bears, however, the bears looking like they are slowing down. Smaller timeframes may show us an early entry.
Weekly (Drawn)
Sticking to our pattern timeframe, with a closer look at recent price action we see multiple weekly attempts to break below $0.50. This week's candle now looking to close above our resistance of $0.60. Strong weekly downtrend shown, a break and close above $0.70 confirms a second push towards the upside (after a retest of our breakout). A push towards $0.70 gives us a 16% gain with an entry at market price.
Daily
Finally looking at our trigger timeframe we see ONT now looking to set a higher high, a close above $0.58 validates this trend. Stochastic RSI showing an uptrend in momentum, higher low in the price shown above. However price also showing exhaustion within the most recent daily candles, and should expect a short term retracement. A daily close above $0.60 activates this trade, the first target would be $0.70.
4Hour (Bonus)
Lastly looking at our 4hour timeframe we see ONT has found resistance $0.63 and is now looking to make a retracement. Stochastic RSI showing momentum was in favor of the bulls, however, we are at a temporary halt. A 4hour close above $0.62 indicates we are heading towards the upside for our 2nd leg. ONT retracement would look like a drop towards $0.55 to form another higher low, which would also leave us a (wammie) double bottom inside the $0.50 zone. (2) possible entries are shown, both can be set with limits or stops. No need to stare at your screen all day.
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$ONT, Breaking from accumulation range over support level...$ONT
Breaking from accumulation range over support level at ~7200 sats
Volume slowly starting to rise (Tight SL just in case)
UCTS still quite at HTFs while at LTF is starting to show buy signals across multiple charts..
OBV bullish divergence
as targets ~8200 sats (10%+)
#ONT
#Ontology Good Areas To BuyEntry : 0.0000721 - 0.0000689 - 0.0000637
Target 1 : 0.0000803
Target 2 : 0.0000883
Target 3 : 0.0001011
Target 4 : 0.0001189
Target 5 : 0.0001386
Stop loss : 0.0000604
Risk/Reward : 10%/113%
Do not hurry to buy, the price may go down to good places
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ONT / USDT 4h SetupHere is the current setup & levels to watch for
+TR bullish trend reversal shown
Bullish above breakout of RyuLvl (reversal level) shown on chart
Invalidation level breakdown below see chart
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ONTBTCLooking at ONT on the daily
We have bullish divergence in W%R
Histogram is showing us a bullish divergence
OBV is healthy and showing us a bullish divergence
Price is trading at the POC (Point Of Control)
Price is in location sitting on the .786 level
Bulls need to step in on volume and essentially all I need now is a nice "W" in price and im in.
So in a nut shell, all indicators are looking bullish on ONTBTC and all I need now is structure in price ("W") and I will trade the break out.
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