ONT lost the higher low on the 1HR overnight, so we are zoomed out to the 4HR. The bulls have a lot of room here to be able to set a higher low (>1.779), and it looks like we should set it here.
If the higher low is set, the bulls will look to break to a higher higher (>2.16) before setting another higher low and then another higher high to regain bull momentum.
Currently the bulls are fighting to regain the 12MA as support on this timeframe, but as you can see has been rejected over the last 4 bars.
A break of the 12MA would need to be followed by a break through the 26MA, and would set the bulls up nicely to come up through the 100MA and make a run.
For now, we watch and wait!
J-DOT-CRYPTO
Callin' it like I see it.
If the higher low is set, the bulls will look to break to a higher higher (>2.16) before setting another higher low and then another higher high to regain bull momentum.
Currently the bulls are fighting to regain the 12MA as support on this timeframe, but as you can see has been rejected over the last 4 bars.
A break of the 12MA would need to be followed by a break through the 26MA, and would set the bulls up nicely to come up through the 100MA and make a run.
For now, we watch and wait!
J-DOT-CRYPTO
Callin' it like I see it.