ONDO (ONDOUSD): Spot Trading Opportunity Amid Bitcoin Bottom

9 de jul.

We are screening through some altcoins for potential wick trades on a possible bottom on Bitcoin and found interesting levels on ONDO.

Current Analysis:
We are looking at the spot chart here as we would plan on entering spot rather than perpetual, but technically, you could do it. We got multiple levels here that support one idea, getting support from the 3D demand zone and the HVN POC (point of control). We got both the 3D and the D FVG above/on the demand zone. In an ideal scenario, we would look at a wick into this demand and nothing more.

If this doesn't hold, we would target the second 3D demand and the 3D BPR down below. Everything in between seems irrelevant for a spot trade.

Strategy:
Our target would be above the current high. If we place a target, we will cover it in a market report as usual.