The real undercurrents often don't reveal themselves until price confirms them. On the four-hour chart, $ONG is trading below both moving averages. The swing structure shows no signs of strengthening, and every rebound gets pushed back down. This looks more like a continuation of the downtrend than a bottom forming. What I'm watching is the strength of any bounce into the moving-average zone above—if volume fails to pick up and candles close with upper wicks, that's evidence the bears remain in control.
On the downside, the question is whether price can break through the previous low with momentum. If it does, the decline could accelerate. A rebound is possible, but until the structure repairs, I see it as an opportunity to position at higher prices—not a reversal.
🔴 Trade direction: Short
📍 Entry range: 0.0619711 – 0.0622219
🛑 Stop loss: 0.0640447
🎯 Take profit 1: 0.0606354
🎯 Take profit 2: 0.0596612
🎯 Take profit 3: 0.0582001
Take in the vastness of mountains and seas; observe the market's subtle moves.
Walk alongside Uncle Xiong and witness the ebb and flow of gains and losses.
#ONG
Click below to trade 👇
On the downside, the question is whether price can break through the previous low with momentum. If it does, the decline could accelerate. A rebound is possible, but until the structure repairs, I see it as an opportunity to position at higher prices—not a reversal.
🔴 Trade direction: Short
📍 Entry range: 0.0619711 – 0.0622219
🛑 Stop loss: 0.0640447
🎯 Take profit 1: 0.0606354
🎯 Take profit 2: 0.0596612
🎯 Take profit 3: 0.0582001
Take in the vastness of mountains and seas; observe the market's subtle moves.
Walk alongside Uncle Xiong and witness the ebb and flow of gains and losses.
#ONG
Click below to trade 👇