Bitcoin move has produced more than 83% sofar:
Bitcoin cash move has produced more than 36% sofar:
XRP move has produced more than 45% sofar:
Cardano Shark’s move has produced more than 460% sofar:
Tron Shark’s move has produced more than 312% sofar:
NEO coin Shark’s move has produced more than 238% sofar:
IOTA coin Butterfly’s move has produced more than 160% sofar:
The purpose to show you some of my previous is to prove with evidence that how the price action follows these patterns and how much these targets can be achieved realistically.
XVG Shark’s move has generated 122% sofar:
Ok, this XVG move is very much similar with the move that the OMG token has made this time. I posted this chart on July 2019 almost a year ago when the price action of Verge coin entered in the potential reversal zone of this pattern. As per Fibonacci sequence of I predicted that it would be moved up from this PRZ level. But due to BTC dominance in the month of June to July 2019 the price action of XVG broke down the potential reversal zone. Very soon the price action recovered and entered the potential reversal zone again. But from Feb to March 2020 when all the markets were crashed the price action of Verge coin followed the international market trend and again moved more down but the priceline of XVG again recovered and so far it has produced more than 540% rally from down to top and if we calculate from the maximum extent of the potential reversal zone up to the highest spike then it has produced 122% sofar.
The Shark’s move of OMG network:
Now I would like to show you the OMG chart that I published last year in April 2019. When the price action of OMG completed the pattern and entered in the potential reversal zone. Then same as like the XVG coin from June to July due to Bitcoin dominance the price action broke down the potential reversal zoine and we have also seen the downtrend from Feb to March 2020 as well. But now again it has recovered and rallied more than 1000% from down to top and if we calculate this rally from the maximum extent of the potential reversal zone to highest spike then it has surged more than 260% so far.
The movement in the and signals:
Now if we switch to the daily time period chart then you can be easily observe that from May 2020 to August 2020 the price action of OMG network was moving in a . If we place the on the complete priceline moving within this channel then it can be easily noticed that we had very weak interest of the traders at the support and strong interest above the resistance of the channel. That was a very strong signal. If we take a look at indicator then in July 2020 the new was appeared at a very high altitude and big distance from the resistance of the channel that was another signal.Tthe point of control of was also above the resistance but if we watch the new dark moon then it was appeared below the support that was signal for the downtrend. But if we take a look at the oscillator then it was already in the oversold zone. Therefore we can ignore this signal of dark moon because due to oversold condition of and the signals of this signal was weak. And finally priceline followed signals and broke out the resistance of channel.
The SMAs and EMAs:
Now if we place the different simple moving averages with the time period of 25, 50, 100 and 200 then the price action has broken out all these moving averages. At this time the priceline is getting retraced. Now there are two possibilities.
1. The price action may retrace up to any of these simple moving averages to use them as support because without the support of moving averages it is difficult for the price action of any asset to continue the uptrend.
2. If we watch the exponential moving averages with the time period of 10 and 21 then the price action is already at the support of these exponential moving averages. Therefore the second possibility can be that the priceline will use these EMAs as support and form a new up-channel from here.
Even though the price action has broken down the potential reversal zone of pattern. But there was some bad market situation behind that, otherwise the pattern is still valid and my targets for OMG are remain the same that I posted last year as below:
Buy between: 0.000604 to 0.000230 btc
Sell between: 0.001079 to 0.001977 btc