ONT - Time to break out of nearly month long consolidation?
It appears to me that ONT is building a lot of pressure within its consolidation that it has been in since the beginning of January.
I am playing this like a symmetrical triangle, regardless of the bull trapped area that goes above the upper trendline during the middle of January.
Measuring from top to bottom of the triangle, I could see a nice 45% swing trade here barring a Bitcoin correction. There are of course much higher targets for ONT, but in the near term, you could be looking at a nice 45%.
Please let me know if you think the same or perhaps have a different idea.
Thank you!
I am playing this like a symmetrical triangle, regardless of the bull trapped area that goes above the upper trendline during the middle of January.
Measuring from top to bottom of the triangle, I could see a nice 45% swing trade here barring a Bitcoin correction. There are of course much higher targets for ONT, but in the near term, you could be looking at a nice 45%.
Please let me know if you think the same or perhaps have a different idea.
Thank you!
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