Bullish Swing Trade on ONTAccording to the TD sequential ONT should have a nice bounce coming. I have doubled down on my position on the daily red 9 looking for a correction. We are also coming up on a weekly red 9 which combining both the daily and the weekly (off by about 5 days) I would say this could be one of the top performers to come. Unfortunately BTC may limit how big of a bounce we can find, however if you see bitcoin have a slight relief from downward pressure you could see ONT outpace a lot of other cryptos in the coming days/weeks depending the outlay of the crypto market as a whole. With the main net recently being released and many free ONT coins being distributed it was expected to see the recent dump. Now I believe we will soon find a bottom. Again varying on what kind of action we see from BTC.
ONT
ONT: Oversold on the daily. Reversal soon? Hello hello! Alt season again? ONT has broken into oversold on the daily chart. In its current spot, it's find a bit of support with confluence, and is showing a "9" on the TD sequential. I'm not entirely convinced yet, especially if BTC takes another dip. If we don't reverse here, I'll be looking at the green box for a reversal. Could provide some very nice returns if it gets its momentum back!
ONT Contrarian Setup 20%Waiting for ONT to hit previous resistance. There is a good chance it will bounce there for a good 20%.
ONTBTC short term Long pullback to EMA
ONTBTC
A bit weak Bullish Divergence on MACD-H (a bit more then 50% )
Strong Bullish Divergence EFI
RSI touched oversold zone
Then there is a false breakout, the new low has formed for now.
I expect it to go up to the slow EMA
Entry 0.0007330
Target 0.0007478
Stop Loss 0.0007250
R/R ratio: 1:2
How I got my entry at 0.0007320 :
ONTOLOGY(ONT) WAITING FOR A BREAKOUTOUTLOOK: BULLISH BIAS
Ontology is currently top 22 in coinmarketcap and top 15 in the past 24hr volume.
>7520 sats has been holding the price and tested multiple times in 4hr time frame and twice in daily.
>ONT is very attractive since it didn't pump that much since the price up tick in BTC un like other top 30 tokens & coins
>Same with MANA that pumped behind from top alt coins.
>In 1hr, 4hr & 1D time frames, all indicators are showing exhaustion from sellers and price might go up any time soon.
>A candle close above 7800 sats, above the EMA7 & upper trend line will confirm a bullish breakout
>Candle close below 7480 sats will push the price down to 7200 which is most probably the bottom
>RSI, Stoch RSI, BB%B & MACD is showing a good consolidation at the bottom waiting for a breakout.
>RSI is currently flat despite of a trending down of the price which could be a sign of a reversal.
>Waiting for a candle close for a confirmation.
>30% up is very probable
**Disclaimer;
>This is still a novice work and definitely not a financial advice.
**Comments and constructive criticism will be fully appreciated so I can improve more with my TAs. Thanks for checking my work!
ONT close to a breakONT has been wedging in the last two weeks. The coin has been creating set of lower highs and the higher lows and has now managed to come all the way to the end of the wedge without a break out/down. Given that the coin is oversold on the daily chart, we may now start to move higher in case the price first breaks and comfortably closes above the wedge resistance.
If this option happens, which is more likely to be the case in our opinion, the price should look for the next level of resistance around 0.40000, which is a triple confluence of the 38.2% Fibonacci retracement, 200 MA on the H4 chart and a down sloping trend line. This mix of resistance levels will likely cause the price to immediately rotate lower, at least for a correction. Be wary of the price stopping first around 0.38800 level, which is a horizontal resistance. In any case, we expect the price eventually to reach the 38.2% retracement level.
All in all, if you are looking to go long ONT for the fundamental reasons, first wait for the wedge to be broken before entering into the trade. In that case, following levels are to be followed:
ONT
ENTRY: 0.37000 (or any closing level above the wedge)
Stop: 0.35500
Profit-taking area: 0.40000
ONT Daily Timeframe Update 7/4 Still haven't changed my targets,I'm thinking this is a extended/complicated wave 3/4... wave 5 won't be amazing, but the next wave set could be wave "3" (this being the 1/2) and we may see some excellent gains in the coming months to year end.
I'll watch and wait for now.
ONT - Do's and dONT's 4HR chartI feel kind of bad. Almost every chart I am putting out these days seems to have the feeling of sell sell sell and wait for the drop.
Onto ONT. This (chart wise) has been quite spectacular throughout the last 2 months. Holding its sat value of at least 7.9k.
I believe this has a high chance of being over. Not only did the rally up around June 6th fail to break previous highs, but we recently went under our old lows of 7.9k. The moving averages are also looking like poop.
My predictions for the fall (if it does of course which i believe it will) BTC looks horrible after all.
Drop to 6357-6678 with short bounce upwards to 7k-7.25k.
Then drop to 5600-5900 before making an actual attempt to regain its old value. The beautiful thing about a drop to this mid to high 5k range without bounding around at mid 6k, is that there is a lot of open space to encourage buyers to gain profits before we reach our old support of 7.9k. Also this decreases the chance that people who bought at 7.9 will want to sell out before we re-test at 7.9 (the concept of the cycle reaching 7.9 for a final re-test to be over)
I could say more, but it just seems like a waste of time at the moment. If this drops i believe it will most certainly hit 5.6k-5.9k. There is simply too much support at this level and too little in between.
Tl:DR The more lines closer together the better the resistance.
ONT going for a down swing?Last week ONT was in a triangle, to me it looks like it's breaking down.
I'm thinking, in bull case, it could go sideways a bit and extend the triangle.. then move up. But I think it's less probable. ONT had a really good run, made 5 elliot waves, double topped, with the 2nd top done on less steam.. it's kinda expensive to pump more at these prices, besides last season it made ~500% vs BTC, one of top gainers.. mainnet launched.. so maybe it's time for a swing down.
The break of the major support line is bothering..
Symmetrical triangles have ~50/50 chance of breaking up/down, so in case you're long, keep a tight stop.
Mine just got triggered, so I'm stepping to the sidelines to watch this coins and see how it behaves.
ONT new lower highONT is currently forming a lower high compared to the 6.70 area from last week.
It's dropping lower versus Bitcoin in this moment, it should go lower as bitcoin is expected to drop later on.
I think the buy zone is pretty large but will be rewarding anyway.
3$ psychological but it could be a bit higher obviously.
ONT short tradeONT is currently a good short.
it is at horizontal resistance
it has a bearish divergence on the 1hr SRSI
RSI is nearing overbought region
it is currently in an ascending wedge, which is a weak pattern but tends to break down
It is in the OTE entry zone for shorting
It has a larger bearish divergence on the 4hr SRSI
4hr is on 8 count for Tom Demark Sequential
The daily chart is bullish but pullback is needed, target is .0008-.00084
ONTUSDT: Looking Strong and Primed to RallyONT has been making bold moves these past few hours and things are definitely looking up for the bulls .
Heavy media coverage for the NEO-based token is probably in anticipation for the soon-to-be Mainnet launch.
Will we see a continuation of this bullish climb? High volume and healthy climbs seem to suggest so.
We're buying in at 5.400 and riding the wave till Mainnet (June 30th). If you're thinking of going for the long range, please adjust your stoplosses accordingly.
Buy: 5.400 - 5.600
Short-term
Target 1: 5.888
Target 2: 6.284
Mid-term
Target 3: 6.628
Target 4: 8.025
Stoploss: 4.206