- ONTUSDT is printing an ascending triangle pattern.
- An ascending triangle pattern is a bullish build up pattern.
- The ascending triangle has one horizontal resistance and two inclined supports : inclined support 1 (inner) and inclined support 2(outer).
- Price action is currently bounded between the horizontal resistance and inclined support 1...
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The first scenario would be that the price would break out of the triangle and move up towards its resistances.
But in case of the price not being able to move up, the second scenario would be that it will range inside the triangle and then break the triangle toward bottom where it will go...
ONT is network is an alternative for the ETH and BSC. Dapps are being built on ONT. OpenOcean, Unfi, etc are using ONT network and more are integrating ONT.
This is just an idea of the ONT chart on daily timeframe.
I will add ONT if it get dipped or when it retest the resistance area as support.
I'm still long and holding strong from my previous chart.
I believe ONT hasn't even begun yet and we will see $1.30 at some point soon. For now though, I'd like 0.5893 (previous 3 week candles high) to flip support.
Depending on the price action at the time I may consider moving my TP1 to 2020 high and add some on a retest of "pivot B"
Patiently waiting for the yellow area, I am expecting a big move from there due to the HTF PA.
If I get the red first I shall scalp short, but looks unlikely right now.
Hope everyone are milking this alt market right now, good time to be alive!!
All the best.