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ONGUSDT

ONGUSDT clockwise breaking down the channelsHi folks hope you are good and welcome to the new update on Ontology Gas Token. This token has surged more than 430%. We will try to understand how this token completed the bullish set up before making this powerful bullish move and how the price can behave next. A big bullish Butterfly setup: On 7th January 2020 I posted an article on tradingview and you can see that I predicted that the price action of Ontology Gas token has completed a bullish Butterfly and entered in the potential reversal zone. When I published my post the price action already had hit just a spike in the PRZ level and it was moving above the potential reversal zone area. In the first week of Jan 2020 the price action started moving up and produced more than 215% gains and again dropped in the potential reversal zone. Then again in the first week of April the price action started the next bullish rally and produced more than 430% bullish rally. Movement in up channel and obvious signals for breakout: Before this powerful bullish rally the price action gave two other obvious signals for the breakout. On the daily chart the priceline was moving in an up channel since after the mid of March 2020. If we watch the directional movement indicator then the +DI crossed up the -DI on 19th March 2020 and since then the positive direction indicated did not cross down the negative direction indicator. And ADX was also continually moving up that was a very strong signl for the break out. And if he watch the moon phases indicate then after continuously strong spikes by the price action. Finally the new full moon was appeared at a long altitude that was another very clear signal that the price action can easily reach up to this level. All SMAs are broken out: Now if we watch on the daily chart the price action has broken out the simple moving averages with the time period of 25, 50, 100 and 200. At this time the distance between the moving averages and the price action is very big. Therefore if the price action will start correction rally up to the nearest available simple moving average to have some support then it can be a really big drastic drop. However, if simple moving averages will be moved up to provide the support to price action then this drop can be avoided. The EMAs are broken out: If we watch the exponential moving average with the time period of 10 and 21. Then the price action has also crossed up these moving averages as well. These moving averages are faster than the simple moving averages. Therefore these EMAs can provide the support very soon before the simple moving averages. And unless these EMAs will be not broken down we can expect that the bullish rally will be continued. Up channel on hourly chart: Now if we switch to the small-time period then after the breakout the price action formed an up channel on the hourly chart and recently the price action has broken down the support of this channel. Expected parallel channel formation: After breaking down the up channel on the hourly chart the price action is likely to form a new parallel channel. We can see 100 and 200 simple moving averages supports below this expected channel. AndM and both moving averages are moving up. Once they will be reached close to the price action then the priceline of Ontology Gas will have more strong support. Here we can make the 200 simple moving average on hourly chart as stop loss. Because if this support will be broken down then price action can move more down up to at least 25 simple moving average on the daily chart. And that is almost 36% down from the current level. Conclusion: Even though the price action has surged more than 690%. But the price action is breaking down the different channels clockwise. Therefore taking care of stop loss is very important. However, if the price action will not break down the current channel then we can witness a further upward move after breakout.
by moon333
1
ONGUSDT formed bullish Butterfly | Upto 221% bullish moveOntology Gas (ONG) has formed bullish Butterfly pattern and entered in potential reversal zone and ready for bullish reversal soon. At this time the price action is moving above the PRZ level so we can wait for the price action for some correction and try to catch it from within the potential reversal zone. This potential reversal zone should be used as stop loss in case of complete candle stick closes below this zone. Lets have a look on the dimensions of ONG priceline's move: After initial leg (X to A) the A to B leg is retraced between 0.618 to 0.786 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B leg's Fibonacci projection and final (C to D) leg is retraced between 1.27 to 1.618 Fibonacci as perfectly required for bullish Butterfly pattern now we can expect bullish move at any time which will lead the price action between 0.382 to 0.786 Fibonacci projection of A to D leg, but after this bullish divergence if the candles sticks will be closed above the 0.786 Fibonacci levels then it can also lead to the long term bull move. As per Fibonacci sequence method we can set our targets as below for mid term trade: Buy between: $0.0869 to $0.0542 Sell between: $0.1123 to $0.1743 So this long term trade has potential to produce upto 221% very big bullish move. Regards, Atif Akbar (moon333) The harmonic moves analysis involves hours of hard work and determination however the success of harmonic trading in fiat and cryptocurrencies is around 80% therefore it is always important that you follow any stop loss strategy while trading harmonic patterns I have also shared a stop loss idea in this article, the information in this article is for educational purpose only this is not intended to be investment advice, I have tried my best to catch the harmonic moves as per predefined classical harmonic bullish Butterfly pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.
Long
by moon333
1
ONGUSDT is moving down. Its right Time to look at Opportunities BINANCE:ONGUSDT is showing bearish Scenario we have 3 support lines in green and brown color(also mentioned in comment box). I have mentioned Sell Target you can plan and sell within its range from now. If we break below 1680 it will confirm downward move, to confirm bullish scenario we need to break above 1900 till correction and eventually reach 2200 however risk ratio is higher between 1900 and 2200. At the moment we are expecting bearish scenario with more force.
by CognitoBTC
1
ONTOLOGY $ONT GAS $ONG akin to $NEO Gas $GAS. @OntologyNetwork Ontology ONT and Ontology Gas ONG Ontology uses a dual token model. ONT is a coin and can be used for staking in consensus, whereas ONG is a utility token used for on-chain services. ONT releases ONG periodically. Why buy the cow to get the milk when you buy the cow (Ontology) and the milk (ONG) Explained by technical analysis on the graph. 157,770,000 ONG in circulation. $0.420 Gauging fair value aside NEOGAS 10,128,375 GAS in circulation valued at ~$3.00. Rationale similar to that of NEOGAS Please see hoarding-NEOGAS-speculative-asset-with-towering-reward-risk/
Long
by warrenhochfeld
5
ONGUSDT short-term bullish, can enter a quick 20% profit trade.BINANCE:ONGUSDT Spring season might not enter altcoin market, except the usdt pairs. ONG suffered massively sell since it got listed on Binance, but it exposes good reversal sign the recent days. The H4 RSI breaks out key resistance, heading to overbought area. The H4 MACD had bullish crossover yesterday and the signal line enters positive region today. Though ONG faces a resistance at current price ($0.42), but strong momentum it gained last days that can help him to beat the resistance. Buy zone: Below 0.42 Target: 0.48 to 0.50 area Stop-loss: 0.39 or below Reward-to-risk ratio: 2.33 P/S: Follow with you own risk. Enter trades with the capital you can afford to lose.
Long
by Batrachotoxin