OMG/BTC - Repeating Pattern - Potential ATH & Major Breakout

Last night we saw OMG break out bullish of a pennant, and now could be forming a bullish flag which would indicate a continuation of the upward trend.

A very similar thing happened after the first Major Breakout on August 3rd. We saw a bullish breakout from a pennant which led to a bullish flag just below ATH. We saw our major breakout from this flag on August 10th at the trend support line.

We could see a consolidation phase in this flag until we get to the support line, and then another big up to new ATH.

BTC permitting

Comment:

OMG is currently moving at the upper limit of the flag despite a strong BTC. It looks very strong currently, like it could break out. There is a 300 BTC buy order at .00207 which could be keeping price high. Still to tell whether it is a fake buy wall or real.

More updates to come!

Comment:

Looks the buy wall is down, it was fake. The price is now heading toward the bottom of the bull flag.

For day tradings we are seeing 15%- 20% range within the flag.

Comment:

OMG broke out of bullish flag

Comment:

There was take profit the at .00222 level.

Looks like the bullish action came in from a dip in BTC price. With BTC back up OMG has fallen back down to the top of the bullish flag. I'm expecting price to continue to consolidate within the flag.

Comment:

OMG formed a pennant within the bullflag and broke out bearish, falling below the flag. I'd say the flag is no longer relevant but we are very close to the trend line. Look for good entry, If you aren't holding.