Last week ONT was in a triangle, to me it looks like it's breaking down.
I'm thinking, in bull case, it could go sideways a bit and extend the triangle.. then move up. But I think it's less probable. ONT had a really good run, made 5 elliot waves, double topped, with the 2nd top done on less steam.. it's kinda expensive to pump more at these prices, besides last season it made ~500% vs BTC, one of top gainers.. mainnet launched.. so maybe it's time for a swing down.
The break of the major support line is bothering..
Symmetrical triangles have ~50/50 chance of breaking up/down, so in case you're long, keep a tight stop.
Mine just got triggered, so I'm stepping to the sidelines to watch this coins and see how it behaves.
I'm thinking, in bull case, it could go sideways a bit and extend the triangle.. then move up. But I think it's less probable. ONT had a really good run, made 5 elliot waves, double topped, with the 2nd top done on less steam.. it's kinda expensive to pump more at these prices, besides last season it made ~500% vs BTC, one of top gainers.. mainnet launched.. so maybe it's time for a swing down.
The break of the major support line is bothering..
Symmetrical triangles have ~50/50 chance of breaking up/down, so in case you're long, keep a tight stop.
Mine just got triggered, so I'm stepping to the sidelines to watch this coins and see how it behaves.