infbp22

ONT: Oversold on the daily. Reversal soon?

BINANCE:ONTBTC   Ontology / Bitcoin
Hello hello! Alt season again? ONT has broken into oversold on the daily chart . In its current spot, it's find a bit of support with confluence, and is showing a "9" on the TD sequential. I'm not entirely convinced yet, especially if BTC takes another dip. If we don't reverse here, I'll be looking at the green box for a reversal. Could provide some very nice returns if it gets its momentum back!
Trade active: Entering this trade now. It hasn't reversed yet, so its risky, but I entered because:

-Hitting my green box/confluence of support
-RSI on the 4hr is extremely oversold, at 16!!! its only been this low once before and a 30% price increase followed shortly after.

If you wan ta safer entry, watch MACD for a nice cross-over in the negative of the histogram. Also, look for divergence!

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