BINANCE:ONTUSD   Ontology / US Dollar (calculated by TradingView)
1) It looks like ONT is holding support very well and a possible new trend line (Bottom yellow line) is forming off of this dip.
------ If stop losses are set around .65 (7%) the possible gains are up to around $1 (40%ish) which I would suggest of course to take gains on the way up. I like to take gains around whole numbers because its easier to remember the numbers.
------ All bets are off if it drops below the yellow resistance.

2) The top yellow resistance line is made from 7/23/18 to the second point on 6/24/19 down to the recent high on 2/10/20 on the weekly chart. (11mths,9mths,4mths?)
------- To me this is showing that the yellow support and resistance lines are forming a bull flag . These lines should intersect around 4/20/20 (lol 420) that is pretty soon given the last high was 8-9 months ago.

3) The top blue dotted line is made from the high on 2/15/20 and the high on 2/24/20, coincidentally on 3/2/20. (on the daily chart )
------- Now we are trading above the blue line :)
------- I think that this blue line is a very good indicator in our favor.
------- It also seems that the price is following the line possibly down to the yellow or blue resistances then spike up?

4) The bottom blue dotted line was made on the daily chart starting on 1/24 then the next point was on 2/27.
------- I don't have much to say about this line other than its useful to use on the shorter time frame lol.

5) This resistance also makes sense because we are close to the previous low around the end of Jan.
------- This is becoming a bull market ever since 2020 and I don't really see this losing steam any time soon. For the part of the market that is like me (Bulls) we really want to see the price have a low above the previous low. This even makes some bears become bulls because the trend will be very strong at that point.

6) Purple box is the a strong "support and resistance" on the monthly/weekly chart.

7) BTC has a VERY similiar situation with MUCH more volume . ONT has usually followed BTC and I think that trend is so set in stone at this point something major would have to happen for that trend to break.
------- Follow BTC if you want to trade this coin.

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Comments

Ok enjin man
+1 Reply
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