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Ontology / Bitcoin

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ONTBTC trade ideas

ONT (Ontology) Rallies Nearly 75% Since My Setup Not only did we rally close to $75 in Bitcoin value, but we pumped by 120% since the recent $0.50 bottom (USD). I'm just as proud of this call as I am of my TRX call back in November/December. We blasted past my initial target of 2200, and have been consolidating pretty well in the 2500-2600 zone. If we break the previous high, it's possible we can venture up to the next major resistance around 3200, and even all the way towards 4300. This coin has a history of going parabolic once it gets going, so I'd be careful about taking profit too early. However, if the market decides to test lower levels, we can head back down to test the 2000-2200 zone as support. Anyway, the reason why I was able to predict this pump is by assuming accumulation based on volume and price action. As you read in my previous ONTBTC analysis (linked below), the volume was much higher than the previous consolidation period, and we also successfully broke out of the downtrend and tested it as support. Even though I bought at 1700/$0.60, I wasn't tricked by the move lower, since I simply saw this as part of the accumulation process. Obviously it was a risk, but making this call proves that my analysis has improved. These are just possibilities I'm looking at. This is a forced long term hold for me, since nearly my entire stack is staked. Should have bought some for trading, but that was all I could afford at the time. This is not financial advice. -Victor Cobra
by VictorCobra
ONT-BTC Long Trade PlanCommodity : ONTOLOGY Trade Type : LONG Trading Against : BITCOIN Entries : Double-UP Entries throughout the Buy Zone Profit Taking : 25% at each TP point Profit Locking : Move SL to break even once TP1 is hit, to TP1 once TP2 hits, to TP2 once TP3 hits and so on Duration - 1-2 weeks Investment in trade : 10% of the total Trading Balance. Prospective Profit : 14% to 36% Prospective Loss : 8% RRR : SL to TP1 is 1.74, SL to TP2 is 2.62, SL to TP3 is 3.46 and SL to TP4 is 4.35 Buy Zone/TPs/SL price points are marked in the chart as follows Greens - Profit Targets (TPs) Blue - Buy Zone (Entries) Red - Stop Loss (SL)
Long
by CryptoTherapist
ONT/BTC short term EW set upONT smashing down doors, hit the 1.168 extension from the original push lining up with the 100% on the trend based fib extension, which means this leg has been of equal length of the original leg, next target being the 1.272. There we should find a reversal pattern and be looking at the .786 on the trend based fib for a re-entry to catch the last leg up to the 1.618 on the trend based fib. we will look to exit this trade just before the 1.272 around .0002190-.0002200, re-entry at .0002000 ish
Long
by Unity-Trading-Group