ONT/BTC Distribution Phase. Mark-down soon

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ONTBTC had an awesome run up, however it seems like market is exhausting.

Recommend taking profit off this run, not touching this with a 10 foot pole.

Wyckoff Cycle

Elliot Wave


TA:
- Distribution phase
- Head & Shoulder on the 4hr TF
- Cloud trading sideways with a slight curve downwards (cloud break)
- ABCDE triangle
- Hidden bear divergence on the 4hr TF

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ملاحظة

Everyone was bullish expecting another run up but volume is weak AF.

Retest of triangle with a shooting star (bearish) reversal candle + cloud acting as resistance.

The downfall begins