Ontology is in a ascending triangle pattern. There is a higher possibility for this to breakout to the upside than the downside. As with other cryptos this pattern has turned out to be a bottoming formation for 2019.it would be unwise to assume this would be different. We also have a elliot 5 wave impulse building. We did get a golden cross on the moving averages so we should be going long and trying not to short this uptrend. I typically short when we get a deathcross on the daily moving averages.
We also have declining volume indicating an end to this large pattern is nearing
The moving averages shown here are the 55 and 200 day exponential moving averages
Happy trading!
We also have declining volume indicating an end to this large pattern is nearing
The moving averages shown here are the 55 and 200 day exponential moving averages
Happy trading!
Comment:
We got the breakout here to the upside and volume is picking up