ONT/BTC is forming another bullish pattern. ONT formed a Bullish Flag lately and broke upwards, now it is forming a Bullish Pennant!
Buy Range: Any price inside the pennant.
Stop Loss: If the price closes below the pennant drawn on my chart or it closes below the yellow line.
Another approach you can do is to wait for the price to break upwards of the pennant. If you do this, stop if the price closes inside the pennant again.
If you look at the 12hrs Chart, we can see the ONT is completing it's 5th Elliott Wave. So make sure to get the most value as possible from this trade, 5th Elliott Wave mostly gives the most upside in crypto.
This is my personal opinion on ONT/BTC. This is not an investment advice.
Trade at your own risk! :)
Goodluck!
Buy Range: Any price inside the pennant.
Stop Loss: If the price closes below the pennant drawn on my chart or it closes below the yellow line.
Another approach you can do is to wait for the price to break upwards of the pennant. If you do this, stop if the price closes inside the pennant again.
If you look at the 12hrs Chart, we can see the ONT is completing it's 5th Elliott Wave. So make sure to get the most value as possible from this trade, 5th Elliott Wave mostly gives the most upside in crypto.
This is my personal opinion on ONT/BTC. This is not an investment advice.
Trade at your own risk! :)
Goodluck!
Pattern turned out to be a Bullish Flag!
ONT still has a good chance of breaking upwards. Set stop loss below the trend line.