Ontology has been consolidating in a channel, after correcting approximately 50% from it's massive run last week. IF we can close above the upper channel resistance at around 0.0005300, with some volume, we can see another impulse begin. We can look for a target around the 1 to 1 extension of the previous wave up, 0.0007500. This is not an extension of the entire previous cycle, only of wave 5. Therefore, this will be a sub-wave 1 of a larger impulse cycle to new highs.
Note
Go time!!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.