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Horrorcoder
May 13, 2018 1:24 PM

Ontology on correction? 

Ontology / BitcoinBinance

Description

Ontology is one of the many projects I'm looking for. After the launch price steadily rised for more than a month and now there is a possible correction going on
In that case is interesting notice how elliott waves and subpatterns fit into the chart; after a 5 impulsive waves went overbought and the retracement started

Now, ONT have a really bullish trend and already touched the 50SMA and the support trendiline during the BTC dip so I see a two scenarios: from here I could continue it's rally with another impulsive waves or could form a complete corrective ABC pattern.
In the latter case I'm looking for an entry point around 6100 and 5400sat, this is the 0.618 fib retracement and also the zone of a first h4 support and a stronger weekly one
Comments
t3rd
I disagree with your chart sorry bud
soonnokta
@JonathanJuliao, +rep
KyleEnillikenge
Everyone is bulling up prior to consensus.

Don't expect a retrace to 7k unless shit goes wrong.

Look at next retrace back to 85 after 105 resistance
msd97
correction has already finished
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