imfamousrajat

ONTOLOGY - FREE FALLING. Where will it stop?

BINANCE:ONTBTC   Ontology / Bitcoin
Ontology has been falling freely since 7 June. The price has depreciated by 68%.

It is moving below 9-day EMA which is a big problem. It is now moving into a critical zone, 0.786 Fibonacci level.
This corresponds to 0.0003575 BTC . The RSI has been way too oversold for so long. It's just a matter of time when it reverses.

It should rebound from the 0.786 level else it's gonna run into some serious trouble.
The profit taking targets can be next fibonacci levels.!

Wait for the signs of reversal before entering any long positions. If the current support level holds then i will enter the trade.

(I can post the chart with in depth analysis using indicators if people need it, but as for now, this should suffice.)

P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal. Invest your capital at your own risk.

Keep an eye out. Trade safely. Always remember, money not lost is also a profit.

Good luck trading.!
Peace.
Comment: BTC Plummeting due to this and the whole market is taking a hit. Trade with care.
There may be some absurd movement in price so watch out.!

1> https://www.sec.gov/news/public-statemen...

2> https://www.sec.gov/rules/other/2018/34-...

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