Ontology (ONT) Bounce from support, likely drop, possible long.

Ontology just had a bounce from lows with the obvious bull div indicating rising support. Now this is the first zone of resistance that we could not break before. The RSI shows a lack of support at this price, so be cautious.

I would consider going long once the cloud is breached. This is because we are previous support as indicated by the 1 day graph. A bounce is not uncommon when this happens. I believe a bear flag will occur here, which might be a good 5-10% trade.

The only problem is that I feel BTC still has more room to drop, so I am more inclined to believe this rally will fail. I am posting this because ONT is just so incredibly low it will be interesting to come back in a few weeks and see if support has held or we are on path to 2264.

For long term players, pick up some here.

Thanks for viewing. Hope you are doing well in this market. If it makes you feel any better I lost over 10% on TRX after transferring it to my online wallet to participate in voting only to have btc fall. Keep in mind I had to lock my TRX for a period of 3 days, so I could not do anything and had to eat this loss. If you are short, congratulations on the xxx% gains.

Comment:

I plan on picking up some ONT.

Comment:

Bull flag here

Comment:

Still in downtrend as predicted, wait for alt season. It is very close. Buy your alts now.