SpartaBTC

ONT / BTC Local downstream channel step 70%. Potential bowl

BINANCE:ONTBTC   Ontology / Bitcoin
ONT / BTC Local downstream channel step 70%. The price is in the middle of the channel. There is no entry point right now. Quite an interesting surveillance tool with potential good entry points and bold targets, but not right now.

Input + Target
1) Entry from the bottom of the channel upon confirmation of support and significant buyer's volume . When entering from the bottom of the channel, the first target is + 70% (channel width). Further, how the trend will develop.
2) Enter on a breakout or pullback after a breakout of the resistance of the given channel.

Globally, a bowl with fantastic target can form, this channel can act as a component of the 2nd phase of this formation. Target levels are shown on the chart. Remember, the level is a zone, not an exact line on the graph.

Stop loss
Use Stop-Loss, but consider the volatility of the trading instrument. Also include logic and understanding of where the crowd places stop loss according to TA rules. Therefore, when the Stop-Loss is reset, there is a large liquidity of orders for the market maker to set a position at a discount with a small percentage step. Nobody will pull passengers.

The same coin is paired with USDT.
ONT / USDT. Downlink. Local uptrend. Trend reversal zone

Comment: A local uptrend is developing. The price approached a very important area of potential trend reversal. A good entry point is indicated when the price breaks out and consolidates above the downtrend line. Potential reversal of the secondary trend.
Comment: the price could not overcome the channel resistance, the price reversed from the observation area and the local trend changed to a downtrend. The rise in the price of bitcoin has intensified this process. At the moment, in the zone of the channel bottom, which can act as a reversal zone. A double bottom was drawn locally. Note that there was no volume at all when the price went down, and it is the same now. It is worth noting that the buyer is similarly not interested.
Comment: the target of the local double bottom was taken + 60%, but the price did not go further. The situation is now.
Comment:
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Comments

Nice work. So would you suggest a stop loss for somebody who made an entry below 5000 satoshi?
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