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Al3x_2020
Oct 21, 2017 4:41 PM

OMGBTC: capitulation 

OMG Network / BitcoinBittrex

Description

The strength in BTC forced a deeper correction in OmiseGo.

This is my current primary view.

The wave C can go quite deep and it is best to wait for some signs that the market is finding support, before buying.

Some divergence is forming in the MACD, which is a good sign, but expect price to go down further. At least to where A = C.

We will see how price reacts in the white box.
Comments
Al3x_2020
Don't get too excited just yet. Might just be a sharp C in an ABC correction. We really need another high as further indication of a trend change.

Though I would really like to see lower prices in order to accumulate more cheap OmiseGo, we might not get it.

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