ONT Bulls Fight to Regain Moving Averages as Support
Updated
As we have seen as of late, the ONT bulls have been holding the 100MA as major support on the 4HR chart.
Once the uptrend line from the bull wedge broke, so did each of the MA's as support on ALL time frames. And the bears are dancing.
I don't think the bulls are done yet, this is just a price correction and what goes up must come down. Healthy consolidation, but it doesn't mean we are in the clear.
If you are trading, keep TIGHT stop losses and watch the MA's on each time frame. Once we regain the 15min as support, zoom out to the 1HR, then 4HR, and 1D.
A lot of work cut out for the bulls, but a 20% bull run can happen just as fast as this 20% bear run.
-J DOT CRYPTO-
Once the uptrend line from the bull wedge broke, so did each of the MA's as support on ALL time frames. And the bears are dancing.
I don't think the bulls are done yet, this is just a price correction and what goes up must come down. Healthy consolidation, but it doesn't mean we are in the clear.
If you are trading, keep TIGHT stop losses and watch the MA's on each time frame. Once we regain the 15min as support, zoom out to the 1HR, then 4HR, and 1D.
A lot of work cut out for the bulls, but a 20% bull run can happen just as fast as this 20% bear run.
-J DOT CRYPTO-
Trade closed: target reached
Failed to break the 12MA, and lost the tightening patter again and broke to a lower low. Reset what we were doung again. ONT
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