Heres a couple of reasons why, for OMG at least.
1) Weekly support, also 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 divs on the 3D , being squeezed between the 9MA and 45 . My other oscillators are also showing 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 OB
2) 0.0014, 3D OB
3) 0.0019, Weekly resistance (thought in all honesty if we get this fair we're probably really )
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.