Now while all this is super exciting, looking at Ontology’s price action may bum you out a little bit. Wednesday’s surge was the first bullish attack after weeks of consolidation. The ONT/BTC pair bottomed out on December 15th, when it reached the all-time-low level of back in March 2018 when it started out trading on Binance. By April it started surging like crazy. That’s when I predicted a correction.
One good thing is that Wednesday’s bullish push brought the pair to the Ichimoku cloud and close to a key pivot level where I’m showing in orange on the chart. This level acted as key support back in August. This means if the pair is able to break above it and cross over the Ichimoku cloud, then we might have a case for a real bullish reversal.
HIGH RISK Investment Trading forex (also known as foreign exchange or currencies) on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, risk appetite, and the amount of your expendable income. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should ONLY invest money that you can afford to lose! You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Forex Diva Trading Opinions Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and education, and does not constitute advice. Forex Diva will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.