ONTUSDT trade ideas
ONT buying opportunityFolks,
As I have been very interested in the Polkadot ecosystem and I am also very interested in projects that are built on the Polkadot ecosystem.
Here is 1 that is interesting.. ONTOLOGY!
From the Technical perspective this has a quite steady rising curve.. Even without lots of momentum the price is making steady gains.
What I see now at the daily chart is that there is Tweezers top being formed.. This has bearish implications.
There is this psychological price that is hard to be broken. Normally prices decline after this pattern. But hé this is the edge people talk about.
Earlier we see prices decline by an average of 13-15%. I expect it this time to.
Be patient, be open and be flexible. When price falls back jump at it and buy in ..
After that $1.55/$1.60.- is price target!
Ontology ONTUSDT - Descending channel +1500% Next wave- Ontology ONT Rank #100 Coin
- On the chart we can see a descending channel, which is broken by the bulls
- We have a retest of the channel with success.
- Profit target is 1.618 FIB
- For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio (RRR) - please check my signature below ↓
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ONT ascending triangle ONT broke up from but was rejected by significant and big resistance at 1.264, this level was big support and resistance also in the past (BTC drop was in same tame, so its questionable was it rejection or it was pulled back down by BTC). Now we can see formed ascending triangle under 1.5318 and also inside of ascending channel that started to show up, so we have one bullish and one bearish pattern on this 6hr timeframe chart. MACD looks like its ready to go up and RSI is in the middle of the range. Se we are 50%-50% for both ways. I think that this most likely will be decided by BTC direction. If LONG, breaking up from 1.5318 would be good entry if you are into swing trading and first TP could be 1,264, since we have real chance to be rejected at least one more time... I would consider LONG mid term hold entry only if we break up from 1,264 (retest would be best and safest).