Ontology, ONT/BTC Is Reaching an Interesting Crossroad!

BINANCE:ONTBTC   Ontology / Bitcoin
One of the best performing coins in the last month has to be Ontology, ONT/BTC.

After a very nice runup and some consolidation, ONT/BTC has now formed a nice channel for itself:

Currently reaching the support level at around 0.0005500. This area is also close to the bottom of the channel and happens to be near the .618 fib retracement level as well.

So as price reaches both the support level and bottom of the channel, this "crossroad" could be an interesting level to enter Ontology for another move up.

If you're looking for a short-term swing trade in Ontology, ONT/BTC, then these are the levels to look for.

Trade Instructions

Buy Area:
0.0005500 - 0.0005750

Profit Targets:
1. 0.0006458
2. 0.0006751
3. 0.0007045
4. 0.0007472

Stop Loss:

Leave a comment if you have any questions.

Like it, if you liked it and share it if you loved it. This is for good karma :)

And until next time, good luck with your trading!
Trade closed: stop reached
This would have been true if ONT wasn't pegged to BTC.... ONT performed well because many people saw it as a hedge against a declining bitcoin.
Now that BITCOIN is rising in dollar value, trading bots automaticly adjust the relative value of ONT in terms of BTC value.

Your analysis is correct tho, 2 bullflags. There should have been a reversal to the upside.
@ironflag, Yeah I see what you mean and your right. That's with all coins who are pegged with BTC of course.
themack92 TheCryptoLorax
@TheCryptoLorax, I agree with this however i think your c wave will be a lot longer considering we would have created a massive head and shoulders and broken through my target is between 29k - 35k sats
@themack92, Thanks for the feed back :)
Trade_Masters themack92
@themack92, yeah good feedback, thanks.
Trade_Masters TheCryptoLorax
@TheCryptoLorax, very nice chart. Thanks!
thanks for this... just entered as it touched the support line.
Trade_Masters johnhenryt
@johnhenryt, welcome and good luck with the trade!
johnhenryt Trade_Masters
@Trade_Masters, bummer! stopped out. so much for that channel....
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