$ONDO Structure That Has Built Out Since October Looks Like A Clean Inverse Head And Shoulders To Me. Left Shoulder Around 0.35, A Deep Head That Swept Liquidity Down To 0.20 In February, And Now A Right Shoulder Forming Near 0.33 With Price Pushing Back Up.
The Neckline I Am Tracking Sits At 0.4710. This Is The Level That Matters. Price Is Currently At 0.44 And Coiling Right Under It.
My Read Is Simple. As Long As Price Holds Above The Right Shoulder Low, The Structure Stays Intact. A Daily Close Above 0.4710 Is What I Need To See Before I Get Aggressive. Without That Close, This Is Still Just A Bounce Inside A Bigger Range.
If The Neckline Breaks And Retests Cleanly, The Measured Move From The Head To The Neckline Projects Toward 0.93. That Is Roughly A 97% Move From The Breakout Zone.
What I Am Watching:
🔸 Volume On The Breakout Candle. A Weak Push Through Without Volume Usually Gets Faded.
🔸 Reaction At 0.4710. First Touch Rarely Breaks Clean.
🔸 Daily Closes, Not Wicks. Wicks Lie. Closes Tell The Truth.
Invalidation For Me Is A Daily Close Back Below The Right Shoulder Low. If That Happens, The Pattern Is Dead And I Step Aside.
Patient Above The Neckline. Cautious Below It.
NFA & DYOR
#ONDO #CryptoPatel @Ondo Finance
