We've been seeing this 3 rising valleys a lot across the markets right now. Higher highs, higher lows, implying accumulation. ONT isnt as clear as some but holding above this inflection zone, would put us in a good place to run up to the next level. All of the market is obviously at the mercy of a bullish move from BTC as per usual, however, im in the camp that believes we will see a move monday. My bias remains bullish until proven otherwise, which we have yet to do.
That being said, one could tighten stops here or wait for confirmation before taking this trade. The stop loss is positioned under the last low where we did see hidden bullish divergence on the RSI, a break below that, could be indicative of trend failure.
That being said, one could tighten stops here or wait for confirmation before taking this trade. The stop loss is positioned under the last low where we did see hidden bullish divergence on the RSI, a break below that, could be indicative of trend failure.