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OmiseGo / Ethereum

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OMGETH trade ideas

OMGETH - Clean Breakout of Channel Suggests BullsFollowing on from a steady, consistant decline for OMG over the last year and a half, are things about to take a turn for the better? We've got quite a clear break of channel going on, combined with a strong Buy signal from Crypto Tipster v2. The potential profits from a breakout of this trend line could be as much as 30% over around 6 weeks, it's a long term trade but the results could be well worth it! If you enjoyed or agree with this idea - drop us a comment, like & follow! :)
Long
by theCrypster
6
OMG vs ETH Long for the new yearI think that OMG is going to make some gains on ETH. I have no idea what will happen to ETH but if you are holding some and would like to increase the amount you have I think this is a good one to look at. NEO too possibly. You can see divergence on the daily chart, it hit fib targets from the last big drop it had so at the very least it should retrace to one of the fib levels from the last high. Pay attention to the prices on the right and the 30/50 fibs as it moves up, if it does. If it breaks that previous high it could be the turn on this particular pairing. Its been very low for a long time, might just die away but let see. Its a good RR play especially if you are an ETH hodler. Would like to see it making a double bottom here on a lower timeframe then buy, but I think this should see some gains.
Long
by amutt
OMGETH Bitfinex W – Broad Wave III?I am speculating that we are potentially in a broad wave III and mid-term wave 3 in OMGETH (Weekly chart). Price ran from 0.0021 to 0.045 in wave I gaining 2000%. Then retraced to 0.0124 in a wave II. Price reversed from there and completed a minor wave 1 and 2 (part of wave III) and recently started its wave 3. If I am speculating that wave 3 is part of wave III and wave III can go to at least 1.618 extension of the first bullish swing and considering that wave 3 cannot be the shortest most likely wave 3 can reach the previous ATH which is actually approx. the 2.618 extension of wave 1. Then wave 4 and wave 5 would complete the broad wave III reaching 1.618 level of current ATH. There are some nice fib overlaps: Wave II retrace went exactly to 0.236 fib of first broad bullish swing (wave I). Wave 1 top overlaps with 0.382 fib of wave II approximately. Wave 2 was 0.382 correction of wave 1. 1.618 extension of wave 1 overlaps with 0.618 of previous downtrend (wave II). 2.618 extension of wave 1 approx. overlaps with ATH. 4.236 extension of wave 1 overlaps with 1.618 extension of wave I. In addition the downtrend line that connects wave I and wave 1 tops has just been broken with a current bullish candle (still 2 days to close). RSI is above 60. Volume is low though – an increase would be needed. I have been entering during wave II at 0.0185 and 0.0205 levels and in wave 1 at 0.0155 and so I am hoping to have this played out nicely. These are only my personal views and is not trading advice. Please do your own research and trade carefully!
Long
by drgorogbalazs
2
OMG/ETH going longOMG is having a lot of good press recently with Vitalik Buterin naming it his favourite cryptocurrency and their new partnership with the government of Thailand. The chart has been showing a nice turnaround this month in the face of a market in turmoil, breaking out from the ascending triangle pattern found at the recent bottom. What followed were a number of micro-bull flags within a larger bull pennant (which may also be a flag, rather than a pennant but the higher lows made me err toward the pennant), which I believe will break out soon. - Diminishing volume is key confirmation for the pennant form and a spike in volume will indicate an impending breakout. - Both the 50 and 200 EMA are northbound. - The RSI and Stoch are at their midpoints, but both show a hidden bullish divergence (it looks smaller here, but on the full-screen indicator it shows up well). The RSI is staying nicely above 40, in accordance with Constance Brown's rule of bullish trends in the Relative Strength Index. - The MACD is actually bearish right now, however I am largely looking the other way due to its nearing of the 0 line and dwindling bearish momentum. I am actually not in this trade just yet, rather I am waiting for a confirmation close outside of the pennant. I will consider a close above 210k as confirmation as it will have broken out and formed a higher high. In the second scenario, we may see a fall to the .682 Fibonacci level before taking off. This would be an excellent buy in area and I include this only as I was almost burned recently by VEN's near-identical setup. Price fell from what I thought was an obviously bullish pennant, down to the previous support area and traded a short channel there before hitting my target. I didn't lose any money as I wasn't in the trade, but in moving on before reevaluating the chart, I definitely missed a trick there! ----- This is not financial advice guys, I'm just a hobbyist! Any and all risk you take is 100% on you! Good luck!
Long
by ExpertFuture
OmiseGo, good chartThis weekend has been all about Ethereum which is outperforming most altcoins. Frankly, I think many altcoins have been so pumped, they are due for serious corrections. They have not had buyable daily charts, aside from FOMO hope & pray or fast day trading. While my day trading has had decent returns, a few mistakes have reduced my profit substantially. Overall it's not worth the effort, and I prefer to go back to daily and weekly charts. Well, OMG was rallying against eth today. Some longer term (daily) indicators support a larger rally. Possible inverse H&S, oversold stochastic. Moved 25% of ETH to OMG, with a 15% stop. I don't know jack shit about the coin.
Long
by tangman
2