ONTUSDT - Possible reversal upwards - long term
ONTUSDT
On the 1 Day chart, we see a possible finger pattern.
This normally means, a strong indication that we will go up. As a finger sticking out and the bars on the side next to this same bar, or higher.
Looks good! BUT, this coin has no proper history. And if we’re really at a strong support here, remains to be seen.
A pretty strong Bullish Divergence on EFI, but not on MACD-H.
Also a bullish divergence on RSI.
We first have to overcome this local resistance, you can see around $3.63 .
When we will reach that an get through, we could see a nice uptrend for ONTUSDT.
You can however decide to take the risk, and assume this is the bottom and gradually buy your way in around the $3.50. I took this risk myself. Bad boy!
Entry $3.65
Target 1 $4.36
Target 2 $5.60
Stop Loss $3.35
R/R ratio:
Target 1: 1:2
Target 2: 1:6.5
Dear StopLoss killer: I don’t place the actual Stoploss, I place an alert, to asses the situation when it takes place. So you’ll leave me alone, so no harm for me there.
About the targets:
The target is flexible to me, I will see to it how the trade develops over time.
I could even stay in it longer then target 2, I might get out and take profits (if any) earlier, because the uptrend looks weak. Remember, the risk increases every step you get closer to your target.
Target 2 could take a long time really, we will update the trade in the mean time, to see how things develop. Target 1 is of course more reasonable.
On the 1 Day chart, we see a possible finger pattern.
This normally means, a strong indication that we will go up. As a finger sticking out and the bars on the side next to this same bar, or higher.
Looks good! BUT, this coin has no proper history. And if we’re really at a strong support here, remains to be seen.
A pretty strong Bullish Divergence on EFI, but not on MACD-H.
Also a bullish divergence on RSI.
We first have to overcome this local resistance, you can see around $3.63 .
When we will reach that an get through, we could see a nice uptrend for ONTUSDT.
You can however decide to take the risk, and assume this is the bottom and gradually buy your way in around the $3.50. I took this risk myself. Bad boy!
Entry $3.65
Target 1 $4.36
Target 2 $5.60
Stop Loss $3.35
R/R ratio:
Target 1: 1:2
Target 2: 1:6.5
Dear StopLoss killer: I don’t place the actual Stoploss, I place an alert, to asses the situation when it takes place. So you’ll leave me alone, so no harm for me there.
About the targets:
The target is flexible to me, I will see to it how the trade develops over time.
I could even stay in it longer then target 2, I might get out and take profits (if any) earlier, because the uptrend looks weak. Remember, the risk increases every step you get closer to your target.
Target 2 could take a long time really, we will update the trade in the mean time, to see how things develop. Target 1 is of course more reasonable.
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