birdy619

RISKY but maybe worth the REWARD?!

Long
BINANCE:ONTBTC   Ontology / Bitcoin
looking at the chart that i have posted we are yet out of this downtrend! we are in a critical position with ontology. we are testing the white support line and it has held after two bounces off, so indeed it looks strong. we are currently in a downtrend and along with that being said we have tested the top red resistance line several times. with the previous information we have to decide our move, but here is the difficult part because i you look at the fib retracement you are in for a huge drop within the red zone of the fib. this is a falling wedge patern which typically break upward from what i've looked up so it could either go south really quick or it could become a money maker. either way trade with caution.

as good as the falling wedge pattern looks this situation may call for a stoploss!

not a pro just a novice trying to make money! let me know what your thoughts are and kept you money safe!

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