ORN ascending triangle - TP $80

8 mai 2021

The graphic may seem difficult to read, but it is clear that we broke the down trend. I pointed here two VWAPS, one from the ATL point and one from the ATH, and we are so close to close a daily candle above the higher VWAP. In my scenario here the graphic seems very bullish, because we've been forming an ascending triangle since the last dip. The MACD looks good too, the volume is increasing and there seems to be no way possible to break the triangle downwards, but a small correction would be great for the price to grow. Once the VWAP is retested as a support, i will be 100% bullish on ORN, my final price target being around 80-83 dollars. I've been accumulating ORN since it was like 25 dollars and i still dollar cost average it, my buying average cost being around 15.3 dollars (the blue arrows).

Once the phase 3 of big market cap altcoins will be over, the amount of money flowing in small market cap ones like ORN will be insane. I expect the ORN mkt cap top to be somewhere around 2.3b by the end of this bullrun.

MY TAKE PROFIT LIST:
TP1- $45
TP2- $65
TP3- $80
I do not use Stop Losses for my trades, because I only do mid or long terms.