Good place to DCA

BITFINEX:OMGBTC   OmiseGo / Bitcoin
I am really finding it hard to be bearish on alts.

Heres a couple of reasons why, for OMG at least.

1) Weekly support, also bullish OB from literally OMG's inception.
2) 3D support.
3) Daily support.
4) Why are selling support?
5) no really, why are you selling support.

Jokes aside. I don't really have more to add other than this is support.
I'm buying all the way down to 0.00038
We're also, what I call "bowling out", a pattern that literally happens every single time a massively crazy move happens.
You could say its accumulation :)

Also notice the coiling and simple bullish divs on the 3D RSI , being squeezed between the 9MA and 45 EMA . My other oscillators are also showing bullish signs (on larger timeframes, which would be quite significant), (maybe I'll go into detail how I use them in the future).

Targets are marked on the chart.
We are still in a bear trend, So make sure to take periodic profits. Personally I'll be taking profits at:
1) 0.00115, weekly breaker and 3D bearish OB
2) 0.0014, 3D bearish OB
3) 0.0019, Weekly resistance (thought in all honesty if we get this fair we're probably really bullish )

DYOR. This is purely from a TA point of view. If Omise shits the bed, all of the above goes right out the window.
Had a quick suss on the Dollar chart on OMG and it still may have a ways to go down.
This might not be the definite bottom, but it's definitely a good time to be dollar cost averaging.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.